Kuwait, Jazeera Airways announced that it has achieved marked improvement in the second quarter (Q2), which ended on 30th July, 2008, with a 47% increase, and recorded KD 897,895 worth of losses.

This improvement signaled a break for the company, which recorded losses that reached KD 1.79 million in Q2 of year 2007.

Jazeera Airways Chairman and CEO, Marwan Boodai, stated that the second quarter is considered a low season, but the company has improved despite the increase in oil prices which its expenses equaled 48% of revenues in comparison to fuel costs which reached 35% in the second quarter of the year 2007. In the frame of continuous expansion, Mr. Boodai also added that Jazeera Airways also anticipates the addition of new and exciting destinations, which will be announced as soon as new aircraft is received.

Jazeera Airways has two headquarters, one in Kuwait and the other in Dubai, and it is listed in the Kuwaiti stock exchange under "Jazeera", in Bloomberg: "Jazeera KK", in Reuters: "JAZK.KW".

Source: Press Release (Jazeera Airways)