Jazeera Airways’ results in the first quarter of 2024 were affected by financial challenges due to currency fluctuations.
Kuwait’s Jazeera Airways revealed its plans to receive six new Airbus A320neo aircraft starting in 2026.
This step comes as part of the company’s expansion plans aimed at strengthening its fleet and increasing its ability to meet the growing demand for its services.
In 2022, Jazeera Airways signed a contract with Airbus to purchase 28 A320neo aircraft for a total value of approximately $3 billion.
This deal is considered the largest of its kind in the company’s history, and is an important step towards achieving its vision of becoming a leading regional airline.
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Jazeera Airways is keeping pace with its fleet expansion plans by developing Terminal 5 at Kuwait International Airport.
These expansions aim to increase the building’s capacity to accommodate up to 7.5 million passengers annually, starting from the end of 2026.
The improved terminal will provide a smoother and more efficient travel experience for passengers, while enhancing the company’s revenue opportunities.
Despite Jazeera Airways’ strong financial performance in the first quarter of 2024, the company faced some challenges due to currency fluctuations, especially the devaluation of the Egyptian pound.
The company incurred losses worth 2.5 million Kuwaiti dinars resulting from foreign currency exchange, but the company is taking proactive steps to mitigate the impact of these fluctuations, such as transferring cash on a regular basis from all the countries in which it operates.
