Chairman Marwan Boodai explained, “the strength of the Jazeera Airways network which currently includes 55 routes to 22 destinations; our commitment to tight cost control; and the success of our new Dubai hub as a complement to operations in Kuwait, has meant that we have established a strong platform for growth in coming years.”

He said, “Despite having to contend with so many external issues such as the global financial crisis, as an airline we have done exceptionally well in staying on top in the local aviation industry , thanks to our spirit of innovation and service. The sale and leaseback of our existing fleet and our 40 aircraft delivery positions to Sahaab Leasing has meant that our airline is cash rich and free of debt – giving us a very strong position going forward, especially now that oil prices have substantially reduced.”

The airline increased its capital over the past year to KD 20 million, (USD 73 million), and following its 14-Jan-09 listing on the Kuwait Stock Exchange, witnessed oversubscription of shares by six times; growing to five times their par value.

The airline has planned a series of key initiatives for 2009, which will enable it to build on its excellent results of 2008. These initiatives focus on the launch of five new destinations, and the accelerated delivery of two new aircraft which will support the start-up of further new routes in the year ahead.


Mr Boodai in particular stressed that Jazeera will make a substantial investment in the airline’s commercial infrastructure to make it easier to book on Jazeera and will offer a revised pricing structure that reflects the abolition of fuel surcharges and the airline’s commitment to offering fares at 25% less than legacy competitors. Upgraded reservation systems, an improved check-in process and expanded sales teams across the airline’s network will offer passengers an even better experience. Improvements will also be made to the in-air, on-board service.


Mr. Boodai went on to explain how the airline’s management team has been strengthened, by introducing the new members of senior staff that were recently appointed to the airline. Mr. Boodai will continue to oversee the airline’s operations as Chairman, while a new CEO - Andrew Cowen - will manage the airline’s day-to-day running. Mr. Cowen, formerly CEO of Sama Airlines in Saudi Arabia has additionally held senior roles at Go Airlines in the UK and British Airways.

(c) Centre for Asia Pacific Aviation. Date posted: 17-Feb-09


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