Kuwait .. “Jazeera Airways” shares rises to the highest level in a month

The shares of Al -Jazeera Airways running on the Kuwait Stock Exchange increased by 6.20% by closing trading today, Thursday, to circulate at the price of 1.182 dinars per share, achieving its highest level in a month.

763.38 thousand shares of Jazeera Airways shares were traded at that time, with a value of trading 871.89 thousand dinars.

The highest price for the share at that time was at 1.194 dinars, while the lowest price was at 1.111 dinars, to touch the highest price in a month and 28 days.

The Jazeera Airlines witnessed an improvement in its financial and operational performance during the recent period, as its operational revenues increased by 5.3% to record about 208.6 million Kuwaiti dinars, and its profits were recorded before calculating interest and taxes remarkably by 46.8%, to reach 17.3 million dinars.

With regard to the movement of passengers, the number of passengers that the company transported exceeded 4.9 million, recording an annual increase of 5.1%. The seat occupancy rate on trips was 78.4%, which reflects the increasing demand for travel, especially during the summer season.

As for the results of the fourth quarter, the company witnessed a growth in operational revenues by 15%, in addition to a decrease in the volume of losses by 41.5%, as it reached 4.2 million dinars, compared to the same period in the previous year.

As part of the expansion and development plans, the company strengthened its fleet by receiving three new aircraft during the year 2023, bringing the total number to 23 aircraft. It also works to enhance its operational capabilities through a future plan to receive six additional Airbus aircraft by 2026, with the aim of expanding the fleet to 50 aircraft.

The company also continues to develop the infrastructure of the T5 passenger building, with the aim of raising the efficiency of operations and improving the experience of passengers, in light of the increasing demand for its services.

It is noteworthy that “Jazeera Airways” is a company listed on the Kuwait Stock Exchange since January 2008, and it works in the air transport sector, with a special focus on airline services.

Its headquarters are in Kuwait City, and it was founded in March 2004.