Kuwaiti budget carrier Jazeera seeks long-haul partner

10/02/2016 07:58 AST

Kuwait’s budget airline Jaz­eera Airways is considering a partnership with a major carrier in Europe or Asia to expand its operations. In an interview with Bloomberg News, Jazeera’s chairman, Marwan Boodai, said that the airline wanted to partner with a major carrier.

It would take a minimum of six months to finalise, he said. A tie-up with a big airline would allow Jazeera to tap into long-haul routes.

Jazeera, which reported profits of 15.4 million Kuwaiti dinars (Dh188.6m) in 2015, is seeking a partnership after its plans to acquire a stake in state-owned Kuwait Airways did not materialise.

In May, Jazeera formally submitted a letter of intent to acquire 35 per cent of Kuwait Airways, but the plan failed. Kuwait’s parliament first approved a plan to privatise the loss-making Kuwait Airways in 2008, but the process has been repeatedly held up.

Mr Boodai told Bloomberg that fuel costs shrank from 30 per cent of the airline’s operational costs to the “higher 20s”. Jazeera, which carries 1.2 million passenger per year, plans to introduce broadband internet to its fleet in the first quarter of 2017.

Last year, Jazeera exited the aircraft leasing business to focus on the airline business. It also reported 58.6m dinars of revenue, according to its earnings statement.


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