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Jazeera Airways reports 66 per cent growth in net profit in 2024, eyes expansion in 2025

Jazeera Airways

Jazeera Airways has announced robust financial results for 2024, reporting a net profit of KD 10.2 million, marking a 66.2 per cent increase compared to the previous year. The airline’s operating revenue rose by 5.3 per cent to KD 208.6 million, while EBIT surged by 46.8 per cent to KD 17.3 million.

Passenger numbers saw a record-breaking year, exceeding 4.9 million, reflecting a 5.1 per cent increase from 2023. The strong growth was attributed to increased travel demand, particularly during the summer season. The airline also reported a load factor of 78.4 per cent, demonstrating high seat occupancy levels.

In Q4 2024, group operating revenue rose by 15 per cent to KD 45.1 million. Quarterly losses were reduced by 41.1 per cent to KD 4.2 million, down from KD 7.14 million in Q4 2023, driven by revenue improvements and operational efficiency measures.

The Jazeera Airways Board of Directors has recommended a dividend distribution of 40 fils per share to its shareholders.

Marwan Boodai, Chairman, Jazeera Airways, highlighted the airline’s resilience in a challenging industry landscape.

“Jazeera Airways’ strong performance in 2024 reflects our strategic agility, operational excellence, and commitment to passengers. A significant growth in profit amid industry challenges underscores our resilience and ambition. As we drive forward with digital transformation in 2025, we remain focused on enhancing connectivity and customer experience. Our success is the result of the unwavering support of our shareholders, passengers, dedicated employees, and stakeholders,” Boodai stated.

The airline achieved a record operational year in 2024, with 18,374 aircraft movements, maintaining its position as the most active airline at Kuwait International Airport for the third consecutive year.

Despite geopolitical challenges, regional airspace disruptions, and a global IT outage during peak summer, Jazeera Airways improved its On-Time Performance (OTP) from 74 per cent in 2023 to 86 per cent in 2024, ensuring reliability for its passengers. The airline also renewed its IATA Operational Safety Audit (IOSA) certification, reinforcing its commitment to safety and quality standards.

Jazeera expanded its network by launching new leisure routes to Krakow (Poland) and Batumi (Georgia) while reintroducing Bhairahawa (Nepal) and resuming seasonal routes.

The airline strengthened its fleet, adding a new aircraft and acquiring six Airbus A320 CEOs, aimed at reducing costs and addressing supply chain challenges.

Customer experience enhancements included new in-flight meals, upgraded seat selection, flexible baggage options, and the launch of Travel Cash, a seamless foreign currency solution. The airline also made strides in sustainability, ranking third globally in Open Airlines SkyBreathe® efficiency for fuel-saving efforts.

For the second consecutive year, Jazeera Airways was honored as an “Employee Wellness Advocate” at the HR Excellence Awards, reinforcing its focus on workplace well-being.

Looking ahead, Jazeera Airways is accelerating digital transformation to enhance the passenger experience. Fleet optimization efforts will shift to a 180-seat configuration by Q3 2025, with 26 new aircraft scheduled for delivery from 2027 onwards.

The airline is also planning upgrades to Jazeera Terminal 5 to support growing passenger demand.

With a solid financial foundation, fleet expansion, and continued digital innovation, Jazeera Airways is well-positioned for further growth in 2025, marking its 20th anniversary in the aviation industry.