Air ticket prices will not decline in 2023..and we will expand in Saudi Arabia

Jazeera Airways Chairman Marwan Boodai confirmed, in an interview with Al Arabiya, that airline ticket prices in 2023 will not witness significant declines, but there will be a discrepancy that will not exceed 5%.

He said, during an interview on the sidelines of the World Economic Forum in Davos, that the prices of airline tickets jumped by 30% over the past year due to the high cost in light of the decline in the production of jet fuel.

Boodai explained that there is a decrease in the number of refineries producing jet fuel due to the Corona pandemic and the Russian-Ukrainian war, as many of them turned to diesel production to fill the deficit in the market, which is one of the reasons for the shortage of jet fuel, saying: “We believe that this will continue during the current year 2023.” .

The Chairman of the Board of Directors of Jazeera Airways indicated that the company aims, during the first quarter of 2023, to reach about 11 destinations in the Kingdom of Saudi Arabia, up from 8 destinations by the end of 2022.

He said, “There is a growth in the tourism sector in Saudi Arabia, which contributes to an increase in the rates of flights to many destinations in the Kingdom, and currently we have more than 70 flights per week from Kuwait to Saudi Arabia.”

Regarding the impact of the World Cup in Qatar, Marwan Boodai said that it has caused positive growth in air traffic, as we recorded operating rates of about 6-7 flights per day to attend the World Cup matches.

He revealed that there is an order worth $3 billion for Jazeera Airways to increase its fleet of aircraft to 36 aircraft over the next 4 years, up from 19 aircraft currently.

He explained that many aircraft manufacturers are facing difficulty in meeting demand due to the difficult conditions due to the repercussions of the Corona virus and the Russian-Ukrainian war, which causes delays in manufacturing due to the supply chain crisis.

He continued, “We look forward to receiving some new aircraft during the current year. We will work to bridge the gap by leasing some aircraft until we receive our aircraft from Airbus.”

“Financing the new aircraft deal by 30% from commercial banks, and 70% through the system of selling and leasing aircraft,” according to Marwan Boodai.