Kuwait’s Jazeera Airways has secured temporary cash facilities from local banks amounting to 27 million dinars ($88 million) to be used to buy property and equipment and in capital expenses, Zawya reports, citing a statement from the airline.
The new credit line comes as the company expands destinations. The airline has added Prague and Vienna to its existing destinations.
The low cost carrier services more than 50 destinations in the Middle East, Central and South Asia, Africa, and Europe. 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 in passenger numbers.
Jazeera Airways secures 88mln financing from local banks to finance property and equipment acquisition
