Kuwait’s Jazeera Airways Group reported net profit for 4Q2012 soared 93 percent, compared to the same period in 2011, and the company is planning to capitalise on this growth by adding two new aircraft to its fleet this year.
Financial results issued on by the low-cost carrier on Wednesday reported revenue in the fourth quarter of last year rose 5 percent to KWD13.9m (US$49.3m), compared to KWD13.3m in the same period in 2011. As a result, overall net profit was up 93 percent year-on-year to KWD2.5m.
On a yearly basis, group revenue for the year was up eight percent to KWD62.6m and net profit for the year was up 32 percent to KWD13.9m. The results are the result of the Group’s Strategic Master Plan (STAMP), which was launched in 2012 and will continue into 2014.
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