Jazeera Airways earned a net profit of KWD4.5 million ($15.2 million) in 2008, nearly double the KWD2.3 million reported in 2007, on a 40.3% increase in operating revenue to KWD48.7 million. Chairman Marwan Boodai said yield rose 18.5% and unit cost was down 8%. "The strategic initiative to de-leverage the business in 2008 with the sale and leaseback of some assets has strengthened our balance sheet at exactly the right time, considering the current credit crisis," he said. Jazeera, which ...

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