Jazeera Airways Co. (ksc) · KSE:JAZEERA
Jazeera Airways Co. (ksc) — Jazeera Airways — FY2021 Earnings Presentation
39 slides from Jazeera Airways Co. (ksc)'s earnings presentation, Feb 15, 2022
Slide 1: Returning to Profitability in Record Time
Returning to Profitability in Record Time FY21 Earnings Conference Call February 15, 2022
Slide 2: Starting Shortly… FY21 Earnings Conference Call
Starting Shortly… FY21 Earnings Conference Call February 15, 2022
Slide 3: Disclaimer
Disclaimer The content and information of this document is only intended to provide users with financial and operational information about Jazeera Airways. No warrant or representation is made by Jazeera Airways for the contents of this document and in no way is the material provided in it intended
Slide 4: Agenda
Agenda FY21 in Review Travel Status at Kuwait Airport and Network Financial Headlines Operational Performance Outlook for 2022 Financial Review Q&A
Slide 5: FY21 Travel Status in Review - KWI
FY21 Travel Status in Review - KWI Jan 2021: Apr 2021: Jul 7, 2021: Aug 8, 2021: Sep 30, 2021: Continued Jazeera pilots, Arrival capacity Arrival capacity +75% of Kuwait suspension of cabin crew and increased increased to population flights from 35 teams vaccinated. gradually to 7,500 on August vacc
Slide 6: FY21 Travel Status in Review - Network
FY21 Travel Status in Review - Network FOCUS ON QUARANTINE- Strong Demand Launch of New FREE AND COVID-SAFE Destinations Destinations DESTINATIONS + Antalya, Tashkent, HIGH DEMAND Istanbul, Bodrum, Bishkek, Tbilisi, Sarajevo, Trabzon, Beirut Colombo, Addis Ababa, DESTINATIONS Almaty Focus on Charter
Slide 7: Financial & Operational Headlines
Financial & Operational Headlines Aircraft order announced at Dubai Airshow 2021
Slide 8: 4Q21 Operational Headlines
4Q21 Operational Headlines PASSENGERS LOAD FACTOR UTILIZATION YIELD 4Q21: 520.2 k 4Q21: 74.2% 4Q21: 9.2 hrs 4Q21: KWD61.7 4Q20: 90.2 k 4Q20: 54.9% 4Q20: 2.9 hrs 4Q20: KWD92.5 +476.6% +35.2% +220.4% -33.3%
Slide 9: FY21 Operational Headlines
FY21 Operational Headlines PASSENGERS LOAD FACTOR UTILIZATION YIELD FY21: 1.0 mn FY21: 66.8% FY21: 5.9 hrs FY21: KWD73.9 FY20: 696.1 k FY20: 64.3% FY20: 4.2 hrs FY20: KWD57.4 +48.2% +3.9% +41.1% +28.6%
Slide 10: 4Q21 Financial Headlines
4Q21 Financial Headlines OPERATING OPERATING NET REVENUE PROFIT RESULT 4Q21: KWD33.1 mn 4Q21: KWD9.3 mn 4Q21: KWD7.0 mn 4Q20: KWD8.6 mn 4Q20: -KWD8.9mn 4Q20: -KWD10.9 mn +285.5% +204.3% +164.6%
Slide 11: FY21 Financial Headlines
FY21 Financial Headlines OPERATING OPERATING NET REVENUE PROFIT RESULT FY21: KWD80.4 mn FY21: KWD10.8 mn FY21: KWD7.1 mn FY20: KWD41.4 mn FY20: -KWD20.7 mn FY20: -KWD26.4 mn +94.3% +152.2% +126.8%
Slide 12: Ancillary Revenues
Ancillary Revenues CARGO ANCILLARY REVENUE REVENUE 4Q21: KWD622.0 k 4Q21: KWD2.9 mn +56.3% +190.4% 4Q20: KWD398.0 k 4Q20: KWD1.0 mn FY21: KWD2.3 mn FY21: KWD7.8 mn +53.9% +74.5% FY20: KWD1.5 mn FY20: KWD4.5 mn
Slide 13: Terminal 5 Performance
Terminal 5 Performance 4Q21 KWD1.4 mn KWD1.2 mn KWD1.1 mn Revenue EBITDA Net Result 4Q20: KWD245.2 k 4Q20: -KWD10440 k 4Q20: -KWD355.1 k 4Q19: KWD1.2 mn 4Q19: KWD684.0 k 4Q19: KWD482.0 k FY21 KWD3.2 mn KWD1.8 mn KWD0.7 mn Revenue EBITDA Net Result FY20: KWD1.3 mn FY20: -KWD478.0 k FY20: -KWD1.4 mn F
Slide 14: Terminal Performance – FY21
Terminal 5 Performance – FY21 REVENUE BREAKDOWN EXPANSIONS TRAFFIC CAPACITY Gates Expansion Foreseen capacity in 2022 KWD1.8 mn Increased to 3 gates connected Passenger Service Fee to bridges and 2 with transportation. 4.0 mn passengers KWD1.5 mn Expanded Arrival Area Arrival area expanded with new
Slide 15: Operational Performance
Operational Performance Jazeera lands in Bishkek
Slide 16: New Routes
New Routes NEW ROUTES LAUNCHED IN FY21 London Heathrow Started June 18 Yerevan Colombo First LCC in the Middle East to Started June 3 Started February 20 operate direct flights to LHR. Bishkek Started June 16 Tashkent Addis Ababa Started June 27 Started March 16 Sarajevo Antalya Almaty Started July
Slide 17: Resuming Destinations
Resuming Destinations RESUMING QUARANTINE-FREE DESTINATIONS Beirut Three destinations in Turkey Service to Beirut resumed with Three routes were operated to scheduled flights on Turkey: Istanbul, Bodrum and Wednesdays and Saturdays for Trabzon, all very popular vaccinated travelers to enjoy an desti
Slide 18: Jazeera’s Network Today
Jazeera’s Network Today London Heathrow was operational during peak season from Jun to Nov 2021
Slide 19: Travel Status
Travel Status SECTORS PASSENGERS (‘000) LOAD FACTOR 12,000 1.2 80.0% 70.0% 74.2% 10,000 Includes 1.0 repatriation 1.0 66.8% sectors 9,574 60.0% 64.3% Includes 8,000 0.8 repatriation passengers 50.0% 54.9% 6,000 6,792 0.6 0.7 40.0% 0.5 30.0% 4,000 0.4 4,234 20.0% 2,000 0.2 10.0% 1,112 0.1 0 0.0 0.0%
Slide 20: Fleet Expansion
Fleet Expansion TOOK DELIVERY OF Signed deal to purchase 28 4 A320NEO IN FY21 new aircraft from Airbus JAZEERA FLEET AS OF END OF FY21 9 A320neo 8 A320ceo
Slide 21: Fleet Purchase Deal
Fleet Purchase Deal VALUE THE ORDER FINANCING Financing facility ongoing USD3.4 bn 20 and to be announced in (KWD1.03 bn) A320neo 2Q 2022. • Doubles fleet to 35 aircraft by 2026 8 A321neo • Supports expansion plans to medium and longer haul destinations
Slide 22: Delivering on Promises
Delivering on Promises SAFEGUARDED MAINTAINED EXPANDED WITH COMPLETED REALLOCATED FINANCIAL HEALTHY CASH ROUTES AND CAPITAL INCREASE RESOURCES POSITION BALANCE AIRCRAFT Implemented Maintained healthy Jazeera completed a Focused on Launched profitable immediate decisive cash balance through capital i
Slide 23: Jazeera Market Cap
Jazeera Market Cap Market cap has more than doubled over the last 5 years Volume Traded in mn Market Cap in KWD mn 300.0 283.3 250.0 219.8 200.0 MARKET CAP AS OF FEB 14, 2022: 150.0 100.0 133.2 146.0 146.0 114.1 KWD 352 mn 92.9 50.0 31.7 25.4 27.5 0.0 2017 2018 2019 2020 2021
Slide 24: Outlook for 2022
Outlook for 2022 Jazeera certified as an “Approved Training Organization” in Jan 2022
Slide 25: Positive Updates for Air Travel
Positive Updates for Air Travel ON FEBRUARY 14, 2022 Kuwait announces no PCR or quarantine required for passengers who received their 2nd dose less than 9 months ago or had their booster.
Slide 26: Positive Updates for Air Travel
Positive Updates for Air Travel Revenue and Travel Moving Cost Controls Restrictions Forward • Revenue expected to continue • Restrictions have eased • Palpable recovery started and is to improve with capacity at worldwide with vaccination expected to have positive returns KWI returning to pre-Covid
Slide 27: Airline Expansions
Airline Expansions Chattogram, Bangladesh (Launched) Present fleet in operation Foreseen increase in number of passengers with Prague, Czech Republic Vienna, Austria 17 aircraft eased restrictions and high 9 A320neo + 8 A320 appetite for travel. Salalah, Oman Taif, KSA New planned destinations Qassi
Slide 28: Operational Expansions
Operational Expansions Approved Training Duty Free The VIV Organization by Jazeera Terminal Jazeera became an “Approved Duty Free operations VIV Terminal started Training Organization” managed by Jazeera, inflight operations and will expand to (certified by Kuwait’s sales to be added soon. serve maj
Slide 29: Financial Review
Financial Review VIV Terminal
Slide 30: Capital Increase
Capital Increase • Jazeera completed a capital increase of 10%, raising KWD10 mn in July 2021 to NUMBER OF NUMBER OF meet regulatory requirements. SHARES BEFORE SHARES AFTER • The rights issue was done at a price of 200 million 220 million KWD0.500 per share. SHARE CAPITAL SHARE CAPITAL • Share prem
Slide 31: 4Q21 Key Parameters
4Q21 Key Parameters YIELD BY QUARTER (KWD) Operating Parameters 4Q20 4Q21 CHANGE Average Aircraft 13.0 16.2 24.9% Destination Cities 20 36 80.0% Revenue Drivers 4Q20 4Q21 CHANGE Seats 164,432 701,079 326.4% Passengers 90,216 520,213 476.6% Load Factor 54.9% 74.2% 35.2% PASSENGERS BY QUARTER (000) Ne
Slide 32: 4Q21 Key Parameters
4Q21 Key Parameters In KWD 4Q20 4Q21 CHANGE • Revenues increased substantially in Operating Revenue 8,592,224 33,122,895 285.5% 4Q21 driven by the increase in Operating Expenses 17,466,186 23,871,364 64.0% operations and coupled with an Operating Profit -8,873,961 9,251,531 255.1% increased load fac
Slide 33: FY21 Key Parameters
FY21 Key Parameters YIELD BY QUARTER (KWD) Operating Parameters FY20 FY21 CHANGE Average Aircraft 13.4 14.7 9.3% Destination Cities 63 * 40 -36.5% Revenue Drivers FY20 FY21 CHANGE Seats 1,082,618 1,543,824 42.6% Passengers 696,093 1,031,352 48.2% Load Factor 64.3% 66.8% 3.9% PASSENGERS BY QUARTER (0
Slide 34: FY21 Key Parameters
FY21 Key Parameters In KWD FY20 FY21 CHANGE • Revenues increased in FY21 by 94% Operating Revenue 41,370,384 80,395,291 94.3% due to eased restrictions on travel Operating Expenses* 62,054,474 69,590,543 12.1% capacity at Kuwait International Operating Profit (20,684,091) 10,804,748 152.2% Airport s
Slide 35: FY21 Balance Sheet Variances
FY21 Balance Sheet Variances • Assets and liabilities increased mainly due to receiving four new aircraft in FY21, to which an initial deposit was paid to Airbus. CASH AT END OF FY21 • Cash balance stood at KWD50 mn in FY21 in comparison to KWD20 mn in FY20, supported by the capital increase, operat
Slide 36: Fuel Prices
Fuel Prices BRENT Swap Vs. SINGJET Swap (USD/BBL) SINGJET Swap BRENT Swap Fuel as Percent of Revenue
Slide 37: Q&A
.ayjul Jazeera.
Slide 38: Contact
Contact For more information please contact: Mostafa El-Maghraby Head of Investor Relations investorrelations@jazeeraairways.com Krishnan Balakrishnan Chief Financial Officer krishnan.balakrishnan@jazeeraairways.com Jazeera Airways KSC is listed on the Kuwait Stock Exchange Bloomberg: Jazeera KK Reu
Slide 39: Thank You
yjul Jazeera. |