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| Sector | Industry |
Transport |
|
| Date | No of Emp (company) | Yearly Growth |
31-Dec-2009 |
620 |
+29% |
20-Apr-2009 |
479 |
| Exchange | Symbol | ID | Stock Type | Currency |
| Kuwait SE | JAZEERA | JAZEERA.KSE | Ordinary | KWD |
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Contact Details
Address:
Kuwait International Airport Building
Airport Road P.O. Box 29288 Kuwait City Safat 13153 Al Assimah Kuwait Tel: +965 2433-3304 +965 2433-9436 Fax: +965 2433-9432 Email:
investor.relations@jazeeraairways.com
Website:
www.jazeeraairways.comRelated Links:
www.sahaableasing.com IPO Details
Listing Date:
14Jan08
Size of Offering:
$23.793M
Equity Offering:
70%
Lead
Managers:
National Bank of Kuwait
M&A Details
Acquistion
Status
Complete
Acquirer
Target
Announcement Date
15 Feb 2010
Closing Date
15 Feb 2010
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Business Overview
The Kuwait-based Jazeera Airways provides scheduled air transportation for passengers and cargo. Through its subsidiaries, the airline also provides aircraft leasing services.
Jazeera Airways carried 1.3 million passengers, in 2010, an annual decrease of 28.7%, this accounted for 15% of Kuwait International Airport’s total annual passengers. The company reduced its fleet size by 40% to 6 aircrafts, and its number of destinations dropped by 36% to 16. The airline’s total annual revenues decreased by 7.49% to KWD42.56 million (USD150 million) and its net profits decreased by 65.81% to KWD2.8 million (USD10 million), in 2010. In keeping with its plans to expand the fleet, Jazeera Airways placed an order for a new Airbus A320, in June 2011, which is expected to be delivered between 2012 and 2014. The Kuwait-based Jazeera Airways provides scheduled air transportation services for passengers and cargo. Through its subsidiaries the airline also provides aircraft leasing services.
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