Al Jazira reports net profits of 8.6 million Kuwaiti dinars in the first half of 2026
- The company operated 11,106 flights, offered 1.9 million seats, and carried 1.5 million passengers over six months.
- It maintained a market share of 35.9 percent, with a seat load factor of 79.1 percent.
- Marwan Boudi: The most challenging period in Jazeera Airways’ history demonstrated the resilience of our business model and the efficiency of our teams.
- Through the “Barakah Initiative,” we succeeded in maintaining Kuwait’s connectivity to the world during an exceptional period.
- We possess the ability to respond swiftly to ensure the continuity of our operations.
- We achieved revenue growth, supported by travel demand and commercial performance efficiency, despite rising fuel prices.
Jazeera Airways announced its financial results for the first half of 2026, recording net profits of 8.6 million Kuwaiti dinars, a 10.3 percent decline on a year-on-year basis. This was due to the significant increase in fuel prices and reduced operational capacity, which limited the positive impact of improved yield per seat during one of the most challenging periods in the company’s history.
Throughout most of the first half of the year, Jazeera faced exceptional challenges, including the temporary closure of Kuwait International Airport starting February 28, followed by ongoing operational restrictions that significantly affected the company’s flight network and limited its operational capacity for most of the period. Following the closure, the company launched the “Barakah Initiative” to ensure Kuwait remained connected to the world by operating alternative flights via the Kingdom of Saudi Arabia, before resuming full operations from Terminal 5 on May 3.
Despite these operational challenges, operating revenues rose by 13.4 percent year-on-year to reach 115.8 million dinars, driven by sustained strength in travel demand, commercial performance efficiency, and a strong recovery in passenger traffic upon the resumption of operations. High demand during the holiday and Hajj seasons in the second quarter further increased passenger numbers and improved flight yields, reflecting the robustness of the company’s business model despite ongoing operational restrictions.
During the first half of the year, Jazeera operated 11,106 flights, offered 1.9 million seats, and carried 1.5 million passengers, achieving a seat load factor of 79.1 percent while maintaining a market share of 35.9 percent. The company’s operational flexibility and commercial efficiency were also reflected in the second-quarter results, with group operating revenues rising by 45.5 percent to 70.7 million dinars, supported by strong travel demand.
In the second quarter of 2026, the company continued operations under limited operating hours at Kuwait International Airport, with transit flights suspended, alongside intermittent airport and airspace closures, which impacted operational efficiency and capacity. Jazeera recorded net profit after tax of 9.6 million dinars in the second quarter, demonstrating its ability to deliver strong performance despite exceptional operating conditions.
Marwan Boudi, Chairman of Jazeera Airways’ Board of Directors, said: “The first half of 2026 was one of the most challenging periods in Jazeera’s history. The temporary closure of Kuwait International Airport imposed unprecedented operational challenges, yet it also demonstrated the resilience of our business model, the efficiency of our teams, and our ability to respond swiftly to ensure the continuity of our operations.”
Boudi added, “Despite the impact of rising fuel prices and lower operational capacity, we achieved a 13.4 percent revenue growth, supported by sustained travel demand and the efficiency of our commercial performance. Through the ‘Barakah Initiative,’ we succeeded in maintaining Kuwait’s connectivity with the world during an exceptional period, while laying the necessary foundations to sustain operational resilience in the second half of the year.”
Boudi continued, “Al Jazeera continues to implement its long-term strategy amid constrained operating conditions, by investing in expanding its destination network, enhancing the customer experience, developing its workforce, maintaining financial discipline, and focusing on delivering sustainable value to our shareholders.”
Al Jazeera has demonstrated its ability to navigate one of the most challenging periods for the aviation sector in Kuwait, becoming the first airline to resume operations following the closure of Kuwait International Airport by launching the ‘Barakah Initiative’ on March 11.
The company adopted an alternative operational model, launching flights from Saudi Arabia and maintaining connections between Kuwait and its key destinations. The airline relocated 14 aircraft and more than 500 employees to the Kingdom to coordinate over 9,000 cross-border bus transfer flights between the two countries, ensuring passengers reached their onward journeys. During this period, Al Jazeera transported more than 200,000 passengers on over 1,500 flights.
Additionally, temporary operational hubs established at airports in Qaisumah, Dammam, Jeddah, and Medina in Saudi Arabia, as well as in Cairo, supported Hajj operations and accelerated the restoration of services from Kuwait, thereby strengthening the company’s market position.
Al Jazeera continues to execute its long-term strategy despite ongoing operational challenges and market uncertainty. While travel demand remains below historical levels and some operational constraints persist, the company is focusing on expanding its destination network, strengthening commercial partnerships, investing in digital transformation, and achieving operational excellence, all aimed at ensuring sustained value delivery to customers and shareholders.
Thanks to its flexible low-cost business model and disciplined cost management, Al Jazeera holds a strong position that enables it to capitalize on recovery opportunities as market conditions improve.
• Net profit after tax of SAR 9.6 million, up 99.2 percent
• Seat load factor increased by 4.5 percentage points, from 71.9 percent to 76.5 percent
• Passenger load factor increased by 3.6 percentage points, from 75.5 percent to 79.1 percent
