Jazeera Airways posts KD8.6 million profit despite Middle East turbulence in H1 2026
Kuwaiti airline turns in net profit for first half of the year despite Middle East disruption. Kuwaiti budget carrier Jazeera Airways' managed to limit the slip in half-year net profit to 10%, as a stronger relative performance in the second quarter helped offset the crisis-hit first. The airline turned in a net surplus of KD8.6 million ($27.8 million) for the six months to 30 June, down on last year's interim of KD9.6 million. Jazeera had suffered from the Kuwaiti regulator's suspension of flights in late February – and the subsequent rise in fuel costs – as the Iranian conflict unfolded. The carrier took mitigating steps counter the impact, using Qaisumah airport and Dammam airport in Saudi Arabia to maintain flight continuity up to April and May. It has also deferred a dividend payment, and sought "waivers" from aircraft and engine lessors to ease costs. Despite the adverse geopolitical situation, Jazeera's second quarter strongly improved on the same period last year – although the rebound partly reflected the fact that last year's second quarter had itself been affected by two weeks of conflict between Israel and Iran. Jazeera's revenues for the three months rose 45% to reach KD70.7 million and, although fuel costs were up 46% to KD17.4 million, the airline's net profit doubled to KD9.6 million.