Jazeera Airways Annual Report 2016

Efficiency Matters

Towards a complete customer experience in 15 minutes or less


In 2016 Jazeera Airways broke new ground by launching services that make the travel experience more efficient for travelers in Kuwait. We launched our Park & Fly remote check-in service, as well as a dedicated business lounge adjacent to our gates, and upgraded our entire check-in experience for even faster service. In 2017, we will continue our efforts to further facilitate our traveler’s check-in experience with a brand new state-of-the-art dedicated terminal that aims to make the airport experience even more efficient.


A national airline of Kuwait, Jazeera Airways is a Kuwait Stock Exchange listed airline serving some of the Middle East’s top destinations from Kuwait. We operate a fleet of Airbus A320 aircraft with a two-class cabin, offering both business and economy travelers an efficient travel experience, competitive fares, and a great on-time performance that’s consistently the best in the Middle East.

2016 Financial Highlights

As we close 2016, I am pleased to report that the year 2016 was our sixth consecutive year of profitability, however the slowing macro economic environment and the continued oversupply of seats on our routes placed pressure on our yields, resulting in KD10.8 million in net profit, down 30% from last year while carrying slightly more travelers. We believe that with the product differentiation initiatives we launched in the second half of 2016, along with our new terminal that is due to start welcoming travelers by year-end, will strengthen our product offering even further and gradually help counter pressure on our yields.

- Marwan Boodai,
Chairman of the Board

Operating Revenue

-10% Vs. FY 2015

Operating Profit

-35% Vs. FY 2015

Net Profit

-29.8% Vs. FY 2015

Passenger Growth


With six years of consecutive profitability and virtually no debt, our balance sheet remains strong and cash-rich, making it one of the healthiest balance sheets in our industry.

- Donald Hubbard,
Chief Financial Officer

  • Equity & Debt
  • Average Yield
Equity & Debt
Debt-to-Equity RatioEquity (KD millions)
Average Yield

Consolidated Statement of Income - Year Ended 31 December 2016

Kuwaiti Dinars

    2016 2015
Continuing operations Revenue 52,754,535 58,601,910
  Operating costs (40,286,445) (41,556,849)
  Operating profit 12,468,090 17,045,061
  Other income 1,755,741 1,411,340
  General and administrative expenses (3,696,273) (3,490,022)
  Finance costs (9,414) (341,763)
  Foreign currency (loss)/gain (1,659,932) 177,987
  Foreign currency translation reserve reclassified to statement of income 2,427,421 -
  Profit before contributions and taxes 11,285,633 14,802,603
  Zakat expense (111,100) (151,176)
  Contribution to Kuwait Foundation for the Advancement of Sciences (101,571) (104,353)
  National Labor Support Tax (277,750) (377,941)
  Profit for the year from continuing operations 10,795,212 14,169,133
Discontinued operations Net profit for the year from discontinued operations - 1,213,026
  Net profit for the year 10,795,212 15,382,159
Earnings per share (fils) - Basic and Diluted From continuing and discontinued operations 53.98 37.82
From continuing operations 53.98 34.84
From discontinued operations - 2.98
Attributable to Shareholders of the Ultimate Parent Company 10,795,212 15,382,159

We are a national carrier of Kuwait and we embody all of what it means to be one

We recruit locally and proudly wear the flag. We believe in our responsibility towards our stakeholders, and act upon it. We implement world-class safety and maintenance standards, we believe in the future of Kuwait’s airline industry, and when we are congratulated for being the Middle East’s on-time airline, or when respected for our operational excellence, we proudly say we are from Kuwait.

Efficiency Matters: Jazeera Airways Terminal



Considered the first of its kind in the region, Jazeera Airways’ Terminal will introduce one-of-a-kind parking at Kuwait International Airport. Services include:

  • Multi-storey car park connected to the Terminal
  • Valet parking
  • Short and long-term parking
  • Baggage delivery service from the airport to your home


Making Jazeera Airways the first airline in the region to build a terminal catered to its own traveler's needs, the new terminal will provide all types of check-in services including:

  • Conventional check-in counters
  • Self check-in and bag drops
  • Remote check-in
  • Mobile check-in


Ensuring smooth and swift passage without delay, the new Jazeera Airways Terminal will introduce travelers to a secure and seamless security process of unsurpassed quality. Alleviating travelers concerns the new terminal will not only provide better security, but also enhance the travel experience and significantly reduce waiting time.



By limiting issues a traveler may face catching their flight, the new Jazeera Airways Terminal will offer E-Immigration services for the first time in Kuwait. Through the use of cutting-edge technology the terminal will deliver services consistent with the expectation of travelers and worldwide standards.

As your travel experience continues to evolve, so will we.



Combating concerns and stress associated with the hassle of travel, Jazeera Airways will improve the traveler experience by insuring a comfortable wait and smooth boarding process.

Using Jazeera Airways Terminal, travelers will benefit from the airlines four dedicated and exclusively operated gates equipped with two state-of-the-art bridges and Jazeera Airways’ Business Lounge, offering business and premium leisure travelers an extra level of luxury and style.


  • Parking
  • Check-In
  • Security
  • Immigration
  • Gate

Community Matters

As an integral element of being a socially responsible company, Jazeera Airways’ partnership with the local community includes activities that focus on various social initiatives such as culture, health, education, and the youth. Below is a look into our diverse corporate social responsibility (CSR) related projects developed for the benefit of communities in Kuwait and beyond.

Welcoming passengers with a smile

Jazeera Airways Celebrates Gergean Across Kuwait and Onboard its Aircrafts

Continuing Jazeera Airways’ annual tradition during the holy month of Ramadan, in June 2016 the airline celebrated Gergean by gifting beautifully designed Gergean boxes to children and families in Kuwait.

Aimed at engaging with all segments of the society, Jazeera Airways' staff distributed the Gergean boxes filled with candy throughout various districts in Kuwait utilizing the Jazeera Airways bus, and on-board all flights departing Kuwait including Dubai, Cairo, Beirut, Bahrain, and Alexandria.

In collaboration with the Cancer Awareness National Campaign (CAN)

Jazeera Airways Raises Awareness Towards Breast Cancer

Reaffirming a long-term commitment towards the health and well-being of Kuwait’s society, in October 2016 Jazeera Airways hosted a lecture focused on breast cancer issues as part of the airlines month-long activities aimed at spreading awareness during Breast Cancer Awareness Month.

Conducted by Kuwait’s Ministry of Health Oncologist Dr. Amani Hussein, the lecture held at Jazeera Airways’ head office focused on the importance of education, early detection and prevention in an effort to extend knowledge from the airlines staff to the public.

Promoting innovation and creativity

Jazeera Airways Sponsors Nuqat Creative Conference

As part of the airline’s well-established tradition of supporting local initiatives and cultural events that enrich the community, in November 2016 Jazeera Airways sponsored the seventh edition of the Nuqat Creative Conference - The Seventh Sense: Powering the Creative Economy.

Sponsoring the conference for the fourth consecutive time, Jazeera Airways facilitated travel for conference speakers to and from the airline’s multiple destinations available in the Middle East.

Our Management Team

Our success is attributed to the power of the team operating our fleet, working behind the scenes in our offices and airports, and serving our customers; not to forget the guidance and support of our partners and regulators.

Rohit Ramachandran
Chief Executive Officer
Donald Hubbard
Chief Financial Officer
Abdullah Hudaid
Chief Operating Officer
Bader N Almershed
Vice President - Industry Affairs
Dr. Mohamed Barakat
Vice President - Marketing & Product
Capt. Falah H. Alshammari
Vice President - Operations
Ali Fairooz
Vice President - Facilities
Rafik Boghdady
Vice President - Sales
Nasser Al-Obaid
Vice President - Ground Operations
Dr. Rami Al Semaani
Vice President - Human Capital
Razali Idris
Vice President - Maintenance and Engineering
Capt. Nasser Al-Ajmi
Vice President - Training

Corporate Governance

At Jazeera Airways, corporate governance is about commitment to values and ethical business conduct. It is about how we manage our business. This includes our corporate, operational, and commercial structures, our culture, policies and the manner in which we deal with various stakeholders. Accordingly, timely and accurate disclosure of information regarding the financial situation, performance, ownership and governance of the company is an important part of our corporate governance. To know more about our governance structure, please email our investor relations team: investorrelations@jazeeraairways.com

Board of Directors

The Board of Directors consists of five members of whom the majority are non-executive and whom can assess objectively the performance of the company independently from the executive management and the shareholders.

Marwan Marzouk Boodai
Marzooq Jassim Boodai
Vice Chairman
Ahmad Abdalla, PhD
Board Member
Mohammad M. Khan
Board Member
Hany Shawky
Board Member