Jazeera Airways renewed a $190 million loan facility on 24 August as it worked through a difficult first half in which profit declined but revenue still rose on stronger demand and Hajj traffic. The Kuwait-listed carrier’s interim results came after operational disruption linked to the temporary closure of Kuwait International Airport, while the financing renewal was described as having no material effect on the airline’s financial position.
The carrier’s first-half net profit fell 10.3% year on year to KD8.6 million, while operating revenue increased 13.4% to KD115.8 million. Reduced operating capacity and higher fuel costs weighed on the bottom line, even as passenger demand held up across key routes. The airline carried 1.5 million passengers in the period and maintained a load factor of 79.1%.
A strong second quarter helped offset the weaker start to the year, with revenue climbing 45.5% year on year to KD70.7 million and net profit rising to KD9.6 million. Temporary operational centres in Saudi Arabia and Cairo supported travel during the disruption, including Hajj-related traffic.