Jazeera Airways slashes losses, achieves operational break-even

06 May 2024 CW Team

Jazeera Airways announced its financial outcomes for the first quarter (1Q) of 2024, noting that operations broke even but suffered a net loss of KD 2.7 million, primarily due to foreign currency losses amounting to KD 2.5 million. The total group revenue for the quarter was KD 46.4 million, slightly less than the KD 48.3 million recorded during the same period in 2023.

Despite the hurdles, Jazeera Airways managed 1.2 million passengers in 1Q 2024, representing a 4.2 percent increase or roughly 47,000 more passengers compared to 1Q 2023. It was reported that the load factor stood at 79.3 percent, and Jazeera Airways' network market share expanded to 37.3 percent from 36.1 percent in 1Q 2023. Furthermore, revenue from retail leases for Terminal 5, owned and operated by the airline, rose to KD 378,000, while duty-free business grew by 5.4 percent to KD 1.2 million.

Marwan Boodai, Chairman of Jazeera Airways, remarked on the outcomes, expressing, and ?Jazeera Airways has consistently shown resilience in demanding circumstances. Despite encountering foreign currency fluctuations resulting in a net loss, our focus on operations and ability to adapt to market conditions remain robust, positioning us for growth in the upcoming summer season and throughout 2024."

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..