Jazeera Airways KSC Reports Earnings Results for the Second Quarter and First Half of 2012; Provides Earnings Guidance for the Rest of the Year 2012
August 01, 2012
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Jazeera Airways KSC reported earnings results for the second quarter and first half of 2012. For the quarter, the company's revenue was KD 15.6 million, compared to KD 14 million, up 11.8% from the second quarter of 2011. Operating profit was KD 4.2 million, compared to KD 2.8 million, up 49.2% from the second quarter of 2011. Net profit was KD 2.6 million, compared to KD 2.1 million, up 23.5% from the second quarter of 2011.
For the first half, the company's revenue was KD 28.3 million, compared to KD 25.3 million, up 11.8% from the first half of 2011. Operating profit was KD 6.4 million, compared to KD 4.6 million, up 39.9% from the first half of 2011. Net profit was KD 3.8 million, compared to KD 3.3 million, up 21.6% from the first half of 2011.
The group's forecasts for the rest of the year remain unchanged, as it expects a seasonal increase in demand in the third quarter, and a mild fourth quarter to close the year.
Jazeera Airways Co KSCP is a Kuwait-based public shareholding company engaged in the business of air transportation and commercial passenger services. The Company operates in two business segments: Passenger airline service and Leasing of aircraft. The Company operates a fleet of Airbus A320 aircrafts flying to 18 destinations across the Middle East, including Dubai, Bahrain, Beirut, Alexandria, Amman, Damascus, Istanbul, Sharm El Sheikh, Assiut, Aleppo, Deir Ezzor, Luxor, Mashhad, Sohag, Jeddah, Riyadh, Kuwait and Cairo. The Company has two wholly owned subsidiaries, Al Sahaab Aircraft Leasing Company WLL, a Kuwait limited liability company engaged in leasing of aircraft and engines, and Sahaab Aviation LLC (Trustor).
JAZEERA AIRWAYS K.S.C.P. 
