Chairman Marwan Boodai said "We closed 2008 with another profitable year, making us the only airline in the Middle East that is profitable since its first operational year and continues to do so year on year. However, we took a dip in our profits in the first quarter following heavy investments in our operations. These investments were tasked with putting in place the right launch-pad for our next wave of growth".

Boodai added: "Looking forward, we have a very positive outlook for the rest of 2009. We are taking delivery of two news Airbus A320s, bringing our fleet to ten aircraft. These deliveries will enable us to capitalize on more lucrative routes and grow our operations as well. We have been both recruiting and adopting new technology in a rapid phase to support our growth. We remain confident in continuing to realise growth and returns for our shareholders in 09".

is listed on the Kuwait Stock Exchange and operates a fleet of eight Airbus A320s to destinations across the Middle East, Europe, Iran, North Africa, and the Indian Subcontinent. The airline will receive two more aircraft by next month's end and has a firm order for 30 additional aircraft to be delivered over the coming years with the last fleet installment scheduled for delivery in 2014.




(c) Centre for Asia Pacific Aviation. Date posted: 15-May-09