Jazeera Airways has announced its financial results for 2024, reporting a net profit of KD10.2 million ($33 million), a significant 66.2 per cent increase compared to the previous year.
The airline’s operating revenue rose by 5.3 per cent to KD208.6 million, while EBIT surged by 46.8 per cent to KD17.3 million.
Passenger numbers continued their upward trend, demonstrating the most active year on record – exceeding 4.9 million—an increase of 5.1 per cent from 2023, supported by a strong summer travel demand. The airline also achieved a load factor of 78.4 per cent, reflecting high seat occupancy.
In Q4 2024, group operating revenue climbed 15 per cent to KD 45.1 million, with quarterly losses reduced by 41.1 per cent to KD 4.2 million, compared to KD 7.14 million in Q4 2023. This was mainly driven by improved revenues and measures implemented to increase operating efficiency.
Jazeera Airways Board of Directors recommended a dividend distribution of 40 fils per share.
Marwan Boodai, Chairman, Jazeera Airways, said: “Jazeera Airways’ strong performance in 2024 reflects our strategic agility, operational excellence, and commitment to our 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. We could not have achieved this success without the exceptional support of our shareholders, passengers, dedicated employees, and supportive stakeholders. We are excited for the journey ahead, building on this momentum to deliver even greater value and innovation in the years to come.”
2024 OPERATIONAL REVIEW
The year 2024 was operationally a record year for Jazeera Airways. With 18,374 aircraft movements, Jazeera was the most active airline at the Kuwait International Airport for the third consecutive year.
Despite geopolitical challenges, regional airspace disruptions, and a global IT outage in peak summer, the airline improved its On-Time Performance (OTP) from 74 per cent in 2023 to 86 per cent in 2024, ensuring reliability for its passengers. Renewing its IATA Operational Safety Audit (IOSA) certification, Jazeera reinforced its dedication to the highest safety and quality standards. Selectively adding two new leisure routes, Krakow in Poland and Batumi in Georgia combined with the relaunch of Bhairahawa in Nepal, Jazeera expanded its network alongside the resumption of key seasonal destinations.
The airline strengthened its fleet, adding a new aircraft and completing the acquisition of six Airbus A320 CEOs which were aimed at reducing costs and mitigating 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. Sustainability remained a priority, with Jazeera fuel saving efforts ranking third globally in Open Airlines SkyBreathe® efficiency.
For the second year in a row, Jazeera Airways was honored as an “Employee Wellness Advocate” at the HR Excellence Awards, reinforcing its focus on workplace well-being.
POSITIVE OUTLOOK
Jazeera Airways is accelerating digital transformation for an enhanced customer experience. Fleet optimisation includes shifting to a 180-seat configuration by Q3 2025, with 26 new aircraft arriving from 2027 onwards. Jazeera Terminal 5 upgrades are also planned to support growing passenger demand.
Backed by a solid financial foundation, fleet expansion, and digital innovation, Jazeera Airways is well-positioned for continued growth in 2025, our 20th year of flying and beyond. –
