Kuwait's Jazeera Airways swung to a profit in the first half of the year, as it carried more passengers and emerged from coronavirus-induced travel disruptions.
Net profit for the January-June period rose to 7.8 million Kuwaiti dinars ($25.4m) compared with a loss of 11.7m dinars in the prior year period, the airline said in a statement on Tuesday.
The airline's revenue in the first half of 2022 rose almost five times on a yearly basis to 77.6m dinars.
Jazeera carried 1.5 million passengers during the six-month period, up more than seven times on an annual basis. Its load factor reached 74 per cent for the first half of the year, reflecting a yearly increase of 19.3 per cent.
“Our forecasts and expectations for the first half of the year were very accurate, as passengers’ appetite to travel was met with a return of travel capacity at Kuwait International Airport since the second half of last year,” Jazeera Airways chairman Marwan Boodai said.
Air travel has boomed this year, with international passenger traffic more than tripling in June as restrictions in most parts of the Asia-Pacific region were lifted, the International Air Travel Association (Iata) said last week.
Total air traffic in the month — measured in revenue passenger kilometres (RPKs) — rose more than two thirds compared with June 2021, primarily propelled by an annual surge in international traffic of about 230 per cent, the global aviation body said.
The results now put global traffic at about 71 per cent of pre-coronavirus levels.
Middle Eastern international air traffic posted the second-highest increase in June as it more than tripled from a year ago, with capacity more than doubling, the Iata report said.
Jazeera carried more passengers in the first six months of this year compared with the same period in the pre-coronavirus era, indicating a strong recovery of the travel industry from the pandemic, it said.
During the first half of 2019, the last full comparable period before the pandemic, the company carried 1.1 million passengers.
To capitalise on the surging air travel demand, Jazeera has announced plans to launch new routes.
The airline will continue to expand its fleet and number of destinations during 2022 as originally planned, maintaining a positive outlook for the rest of the year despite higher fuel prices since March 2022, it said.
“Jazeera has placed itself well to reap the benefits of the new market dynamics and was able, through its constant communication with its passengers and its analysis of the market, to return stronger than before,” Mr Boodai said.
“We launched new tourist destinations and started services to high traffic ones, and will continue our growth and progress throughout the coming quarters,” he added.
Jazeera’s board also recommended an interim cash dividend of 6.6m dinars, or 30 per cent of the share capital. The move marks the first time in its history that the airline is planning to make an interim cash distribution.
If you go:
Getting there:
Flying to Guyana requires first reaching New York with either Emirates or Etihad, then connecting with JetBlue or Caribbean Air at JFK airport. Prices start from around Dh7,000.
Getting around:
Wildlife Worldwide offers a range of Guyana itineraries, such as its small group tour, the 15-day ‘Ultimate Guyana Nature Experience’ which features Georgetown, the Iwokrama Rainforest (one of the world’s four remaining pristine tropical rainforests left in the world), the Amerindian village of Surama and the Rupununi Savannah, known for its giant anteaters and river otters; wildlifeworldwide.com
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Indoor Cricket World Cup
Venue Insportz, Dubai, September 16-23
UAE squad Saqib Nazir (captain), Aaqib Malik, Fahad Al Hashmi, Isuru Umesh, Nadir Hussain, Sachin Talwar, Nashwan Nasir, Prashath Kumara, Ramveer Rai, Sameer Nayyak, Umar Shah, Vikrant Shetty
Honeymoonish
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Ain Issa camp:
- Established in 2016
- Houses 13,309 people, 2,092 families, 62 per cent children
- Of the adult population, 49 per cent men, 51 per cent women (not including foreigners annexe)
- Most from Deir Ezzor and Raqqa
- 950 foreigners linked to ISIS and their families
- NGO Blumont runs camp management for the UN
- One of the nine official (UN recognised) camps in the region
List of officials:
Referees: Chris Broad, David Boon, Jeff Crowe, Andy Pycroft, Ranjan Madugalle and Richie Richardson.
Umpires: Aleem Dar, Kumara Dharmasena, Marais Erasmus, Chris Gaffaney, Ian Gould, Richard Illingworth, Richard Kettleborough, Nigel Llong, Bruce Oxenford, Ruchira Palliyaguruge, Sundaram Ravi, Paul Reiffel, Rod Tucker, Michael Gough, Joel Wilson and Paul Wilson.
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
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The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
MATCH INFO
Manchester United v Manchester City, Wednesday, 11pm (UAE)
Match is on BeIN Sports
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
More from Rashmee Roshan Lall
if you go
Zayed Sustainability Prize
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PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
