Mubasher: Jazeera Airways posted a decrease of 14.1% in profits during the third quarter of 2018 compared to the same period a year ago.
Earnings declined to KWD 7 million ($23.1 million) in Q3-18 from KWD 8.2 million ($27.05 million) in Q3-17, according to a recent statement.
During the first nine months of 2018, Jazeera Airways reported a fall of 11.2% in profits to KWD 8.5 million from KWD 9.5 million in the corresponding period last year.
Operating income increased by 38.4% to KWD 63.7 million in nine months.
The number of passengers grew by 44.5% year-on-year to 1.5 million.
“Operationally, fuel prices continued to increase in Q3 2018, rising by 35% from Q3 2017, and the competitive landscape remained strong. However, despite these challenges, our investments in expanding our offering and network continued to yield positive results,” chairman of Jazeera Airways Marwan Boodai said.
