Kuwaiti LCC Jazeera Airways’ net profit was down 10.3% year over year to KD8.6 million ($28 million) for the first half of 2026, as higher fuel costs and reduced capacity offset stronger yields and resilient demand.
The airline said the temporary closure of Kuwait International Airport beginning Feb. 28 as the Iran war erupted prolonged operational restrictions, severely disrupted its network, and constrained capacity for much of the first half.
In response, Jazeera launched Mission Barakah to maintain Kuwait’s connectivity by operating alternative flights via Saudi Arabia. Temporary hubs at Saudi Arabian airports in Qaisumah, Dammam, Jeddah and Madinah, as well as in Cairo, Egypt, supported Hajj operations, enabled a rapid return to Kuwait and strengthened the airline’s market position. Full services were restored at Kuwait Airport’s Terminal 5 on May 3.
Despite the disruption, Jazeera’s operating revenue for the first half rose 13.4% year over year to KD115.8 million, reflecting a strong rebound once operations resumed. Robust holiday and Hajj traffic in the second quarter drove higher passenger volumes and stronger yields.
Jazeera operated 11,106 sectors in the first half, offering 1.9 million seats and carrying 1.5 million passengers at a 79.1% load factor, while holding a 35.9% market share. Its second-quarter group operating revenue climbed 45.5% year over year to KD70.7 million on exceptionally strong demand, even as the airline operated under restricted airport hours with no transfer passenger operations and intermittent airport and airspace closures. Jazeera’s second-quarter profit after tax stood at KD9.6 million—up 99.2% year over year.
Chairman Marwan Boodai called the first half of 2026 “one of the most significant challenges in the airline’s history,” adding that the closure of Kuwait International Airport “tested the resilience of our business.”
“While profitability in the first half of 2026 was impacted by significantly higher fuel costs and reduced operating capacity during the period, we delivered 13.4% revenue growth year over year, reflecting resilient customer demand and disciplined commercial execution,” Boodai said.
During the first half, Jazeera launched new services to Aleppo, Syria, and Milan Bergamo Airport, expanding its network further. It also completed a lightweight seat retrofit across its fleet, lifting capacity to 180 seats per aircraft and improving operating efficiency.
Founded in 2004, Jazeera Airways serves more than five million passengers a year across a network of more than 70 destinations spanning the Middle East, Central and South Asia, Africa and Europe. It currently operates 22 Airbus A320ceo and A320neo aircraft, with 26 more—18 A320neos and eight A321neos—due for delivery from late 2026.
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