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Home News & Events AVIATION LAW NEWS: Success Story for Low Cost Jazeera Airways

AVIATION LAW NEWS: Success Story for Low Cost Jazeera Airways

Sunday, 22 September 2013 10:39

Jazeera Airways is not in the same league with other low cost carriers such as Ryian Air which recently has been styled as 'the world's favourite airline' by the International Air Transport Association (IATA) having carried some 80 millions passengers.

Indeed, notwithstanding certain challenges in particular certain unnecessary red tape, Kuwait based low cost airline which has some $ 509 worth of assets, has been an ongoing success story with a 229.4 % rise in its net profits during the first quarter of this year with a recorded $ 51.4m in revenue during the first three months. According to its chairman, Mr Marawni Boodai, representing the interests of some 12,000 shareholders, as quoted in the last edition of the prestigious publication 'Arabian Business', he strongly believes in investment in the aviation industry. Mr Boodai remarked that "Jazeera as a group is expanding but not reducing the number of aircraft. We still need to reach what we call the 20-puls aircraft [fleet], which will give us a good size in the leasing market", confirming that the new aircraft orders will take place in the second half of 2014.

Indeed, Jazeera Airways has recently announced that it has secured a funding worth $ 90m for the purchase of three new Airbus A320 aircraft, one of which has already been delivered this summer.

Advocates, Tanti-Dougall & Associates provides various services related to the aviation industry including registration of aircraft.