Kuwait's Jazeera Air Hldrs OK 10-For-100 Bonus Shares For 2011

Wednesday, Apr 25, 2012

BEIRUT (Zawya Dow Jones)--Kuwait's Jazeera Airways (JAZEERA.KW) said Wednesday its shareholders have approved a bonus-share distribution for 2011 at the rate of 10 bonus shares for every 100 existing shares held.

Shareholders registered at the date of the general meeting which was held Wednesday will be eligible for the bonus share distribution, the carrier said in a statement posted on the Kuwait bourse website.

The airline said in March it swung to a full-year net profit of nearly 10.6 million Kuwaiti dinars ($38 million) in 2011 from a loss of KWD2.8 million in the previous year.

Jazeera said last week it launched flights between Kuwait and the Iraqi city of Najaf making it the first carrier to introduce scheduled passenger flights between the two countries since more than 22 years.

Its shares closed 1.1% higher at KWD0.455 in an overall positive market Wednesday.

-By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com

(END) Dow Jones Newswires

25-04-12 1057GMT