Year-Old Carrier Expects A Profit In 2006

Kuwait's Jazeera Airways says it is likely to exercise its option to buy six more Airbus A320s, on top of the 10 narrowbodies already on order for the expanding low-cost carrier.

Jazeera CEO Marwan Boodai told Reuters his airline expects to post a profit in 2006, just over one year after it began flying four A320s on low-cost routes throughout the Middle East.

"The focus now is on the delivery of the first 10 aircraft," Boodai said. "By the end of the summer we will be in a better position to decide exactly when we will be exercising the option for the further six aircraft."

"The response from the market is overwhelming ... that we expand," Boodai added. "We do need more equipment but the exact timing will be decided at the end of the summer season."

The airline will enter talks with financing institutions next year for loans on four of the 10 planes it has already purchased. Boodai also stated he plans to list his airline on the Kuwaiti stock exchange in the first quarter of 2007.

According to the CEO, Jazeera is moving according to plan to meet its target of carrying one million passengers by March 2007.

"With aircraft No. 5 scheduled for delivery in January, hopefully that will increase our capacity and we will be able to reach a target of 100,000 passengers monthly," he said. "So I hope within six months or less we'll have reached the one million passenger target. It could be March or April."

FMI: www.jazeeraairways.com/, www.airbus.com