June 29, 2022 aviation

Kuwait's Jazeera Airways secures $88mln financing from local banks


Kuwait's Jazeera Airways has secured temporary cash facilities from local banks amounting to 27 million dinars ($88 million).

The facility will be used to buy property and equipment and in capital expenses, the airline said in a bourse filing on the Kuwaiti stock exchange.

Jazeera Airways returned to profitability in 2021, reporting a net profit of 7.1 million dinar, more than double on year. The earnings were supported by an increase of 48 percent rise in passenger numbers.

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