Freedom Town, Kuwait, during a webcast, Jazeera Airways Group today announced a net profit of KD1.2 million for First Quarter of 2012, making the seventh straight profitable quarter since Third Quarter 2010.

First Quarter 2012 Financial Highlights:

• Operating revenue: KD12.7 million, up 11.8% from Q1’11’s KD11.4 million
• Operating profit: KD2.3 million, up 25.5% from Q1’11’s KD1.8 million 
• Net profit: KD1.2 million, up 17.8% from Q1’11’s KD1.0 million
• Average yield: up 20.7% from Q1’11’s

Jazeera Airways Group Chairman Marwan Boodai said, “This is the first time in our history that we record seven straight quarters of profitability. Our strong performance clearly demonstrates the agility of the company’s business model, which continues to perform in the wake of increasing fuel costs and political turmoil in Syria.”

Established in 2005, Jazeera Airways Group is a Kuwait Stock Exchange-listed with a fleet of 12 fully-owned Airbus A320s, evenly distributed between its airline business, Jazeera Airways, and its fully-owned leasing-arm Sahaab Aircraft Leasing.  Sahaab has assets placed with Virgin America, SriLankan Airlines, and Jazeera Airways.

Source: Jazeera Airways Group