Kuwait-based Jazeera Airways reported a 47.4% year-on-year decline in net profit to KD 7.1 million in the third quarter of 2026, while group operating revenue fell 10.6% to KD 62.1 million, amid higher fuel prices, regional geopolitical uncertainty and operational restrictions.
The airline carried 1.07 million passengers during the quarter, down 26.3% from approximately 1.46 million in the corresponding period of 2025. Its passenger load factor declined by 3.1 percentage points to 74.9%, compared with 78% a year earlier.
Despite the decline in passenger traffic, Jazeera Airways increased its market share at Kuwait International Airport to 36.7%, from 31% in the third quarter of 2025. Ancillary revenue also rose 83.3% to KD 17.4 million.
Higher Fuel Costs and Operating Restrictions Affect Profitability
Jazeera Airways said its third-quarter performance was affected by geopolitical uncertainty, higher fuel prices and operating restrictions, including the continued suspension of connecting passenger traffic through Terminal 5 at Kuwait International Airport.
Average fuel prices increased by 55% to $139 per barrel, compared with $90 in the corresponding period last year.
As a result, the airline's fuel costs rose 28%, despite an 18% reduction in aircraft block hours.
The carrier operated 8,065 flight sectors during the quarter, a year-on-year decline of 24.5%, while average daily aircraft utilisation fell 10.9% to 12.13 hours.
Marwan Boodai, Chairman of Jazeera Airways, said the airline continued to face pressure from regional instability, elevated fuel costs and operational restrictions.
He emphasised the company's focus on maintaining financial discipline, improving operational efficiency and restoring capacity.
Jazeera Airways Market Share Rises to 36.7%
Jazeera Airways increased its market share at Kuwait International Airport to 36.7% during the third quarter, despite lower passenger numbers and reduced flight activity.
Ancillary revenue reached KD 17.4 million, an increase of 83.3% compared with the same period in 2025.
The airline also reported an on-time performance rate of 88.9% during the quarter.
According to its published operating highlights, Jazeera Airways had 22 aircraft in its fleet, compared with 24 in the third quarter of 2025.
Airline Receives Approval for In-House Ground Handling
In October 2026, Jazeera Airways received regulatory approval to undertake its own ground-handling operations, as part of efforts to strengthen operational control and improve cost efficiency.
The airline said its third-quarter results included KD 1.4 million in pre-operating payroll expenses associated with preparations for the new ground-handling arrangements.
Excluding these expenses, net profit would have reached KD 8.5 million, representing a 37% year-on-year decline, compared with the reported profit of KD 7.1 million.
The approval marks a step in the airline's operational development, although the announcement did not establish that in-house ground-handling services had already commenced.
New Routes to Syria and Ethiopia
Jazeera Airways highlighted Deir Ezzor in Syria and Addis Ababa in Ethiopia among the new routes included in its third-quarter operating update.
The airline continues to focus on restoring operational capacity, optimising its route network and improving cost efficiency as regional aviation conditions remain challenging.
Its priorities include strengthening operational performance and managing costs while pursuing longer-term growth.
