ZAWYA: Jazeera Airways reports Q1 2026 financial results

About this update from Jazeera Airways Co. (ksc)

Board approves distribution of interim dividends of 83 filsKuwait: Jazeera Airways today announced its financial results for the first quarter (Q1) of 2026, reporting operating revenue of KD 45.1 million, a year-on-year decline of 15.8%. Performance during the quarter was significantly affected by the geopolitical crisis that resulted in the temporary closure of Kuwait International Airport and the suspension of all flights from Kuwait starting February 28.Jazeera Airways delivered a strong operational performance in the first two months of the year, with stable demand and network activity across its key markets that covered around 70 destinations. During the quarter, marred by a regional disruption, total sectors operated by Jazeera Airways fell by 28.4% to 6,569 during the quarter, while capacity decreased by 27.6% to 1.1 million seats and Passenger numbers during the quarter declined only by 25.6% to 925,543. The airline subsequently recorded a net loss of KD 1.1 million, compared to a net profit of KD 4.7 million in the same period last year.The Board of Directors recommended the distribution of interim cash dividends of 83 Fils.With the Kuwait Airport closed for 57 days, the longest closure of any airport in the region, Kuwaiti airlines faced the greatest operational and financial strain. During this period, Jazeera Airways remained focused on one clear priority: keeping Kuwait connected to the world through Mission Barakah.By March 11, Jazeera Airways had successfully resumed operations through an integrated overland-air corridor via Saudi Arabia, restoring connectivity to 27 destinations across 11 countries. Within days, Jazeera deployed 14 aircraft and operational assets across borders, including technical equipment and spare parts, while mobilizing more than 500 employees and coordinating over 9,000 large-scale bus movements between Kuwait and Saudi Arabia.Through close coordination with authorities, the airline facilitated more than 1,500 flights and transported over 200,000 passengers. This dual-hub operating model enabled Jazeera Airways to sustain critical connectivity, supporting not only passenger travel, but also cargo movement, workforce mobility, and the continuity of business activity during an unprecedented period of disruption.Jazeera Airways also established alternative hubs across five cities in Saudi Arabia and Egypt to position th...

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