Kuwait's Jazeera Airways is considering the acquisition of additional narrow-body aircraft to caplitalise on "opportunistic growth” and fill a void in direct flights between Kuwait and Europe after 14 European carriers pulled out of Kuwait International Airport in the past few months, its chief executive said.
The low-cost carrier is also looking towards closer co-operation with the national flag carrier Kuwait Airways to enter into a "complementary” partnership – similar to that of Emirates and flydubai – that will help them have an expanded point-to-point network.
To spearhead growth, the airline is in talks with lessors for longer-range single-aisle planes such as the Airbus A321 LR and the A321 XLR as it plans for its fleet requirements, Barathan Pasupathi, chief executive, told The National.
The all-Airbus operator is also studying Embraer's E2 jets for point-to-point routes with lower density traffic.
"We are in the market for more narrow-body aircraft,” Mr Pasupathi said.
"Sustained growth will come from the aircraft order book. Opportunistic growth will come from aircraft that we will take opportunistically into our fleet and hub when the right time comes.”
Jazeera is already in talks with number of lessors who have approached the airline but Mr Pasupathi ruled out interest in widebody jets "for the time being”, to keep a check on costs.
While the availability of aircraft in the market is limited, lessors are offering their customers aircraft that have been declined by airlines which are experiencing a tapering off in travel demand.
"We are now seeing appetite in the market for lessors knocking on doors of airlines who can absorb their capacity,” he said.
Summer of 2026: A 'different ballgame'
Jazeera Airways sees "opportunistic growth” potential for direct flights between Kuwait and Europe after 14 European carriers pulled out of Kuwait International Airport over the last few months.
The airlines halted flights amid shortcomings in airport infrastructure and weak demand.
Most recently, IAG-owned British Airways ended its London-Kuwait route in March after six decades of service as it did not expect to have enough aircraft to operate the flights.
Jazeera Airways has a " game plan” to build point-to-point connections, particularly in Europe to fill the gap, and is launching services to several European destinations this summer, Mr Pasupathi said.
On June 5, it started twice-weekly flights between Kuwait and Hungarian capital Budapest, marking the first non-stop service between the two countries.
Asked when the airline will need to acquire additional narrow-body aircraft to meet demand, Mr Pasupathi said: "Summer of 2026 is going to be a different ballgame, if you look at the lack of European carriers in Kuwait.”
"We're being approached by a lot of airports to go into Europe. There has to be a tangible return. We are studying a lot of business cases, plans, airports.”
There is a "deep interest” from airports approaching Jazeera Airways thanks to Kuwait's "yield-accretive” market, well-travelled Kuwaiti population and high-spending international travellers, he said, declining to name the airports.
Travel demand is also growing amid easing visa and work permit issuances in Kuwait, while intra-Gulf traffic is rising and Gulf-Europe traffic will grow when Kuwaiti citizens get visa-free access to the Schengen region, he said.
Growth elsewhere
Jazeera Airways is making significant inroads into Central Asia, from where it is flying pilgrims to Saudi Arabia for Hajj and the year-round Umrah. Going in the other direction, there is also outbound tourism demand from Kuwait to visit these countries, he said.
Travel demand growth in Syria, Saudi Arabia, Egypt, Iraq, Iran and Central Asia is "giving us tremendous confidence that there will be opportunistic windows to pursue and we're watching this space very carefully,” he added.
"We are pleased that markets that are opening up will require aircraft capacity in point-to-point [traffic]. We also see opportunities in fifth and sixth freedom growth in some markets,” Mr Pasupathi said.
Fifth freedom rights allow an airline to fly between foreign countries as a part of services to and from its home country. The so-called sixth-freedom right allows an airline to carry passengers or cargo from a second country to a third country, provided it touches down in its home country.
Aircraft deliveries
The airline is awaiting the arrival of 26 new aircraft – 18 A320 Neos and eight A321 Neos – that it had ordered at the Dubai Airshow in 2021.
It will start taking delivery of the first A320 Neos on schedule by the end of 2026, while the A321 Neos will be handed over from 2027 onwards, both through to the end of 2030.
In December, Jazeera Airways announced plans to buy six Airbus A320 classic variant planes that it currently leases and operates, in an effort to mitigate the supply chain challenges plaguing the industry.
"This will give us good, sustained growth between 2024 to 2030,” Mr Pasupathi said. "However, we are very positive that we may need to grow beyond this.”
'Complementary' partnership with Kuwait Airways
There is also a "tremendous” opportunity for Jazeera Airways and flag carrier Kuwait Airways to enter into a "complementary” partnership similar to that of Emirates and flydubai, he said.
"From an aviation hub strategy, that excited us … we would have like to have it yesterday.”
Further backing its growth ambitions, Jazeera Airways will expand Terminal 5, its terminal in Kuwait International Airport.
Plans are in place to increase its capacity to 7.5 million passengers, up from five million now, to cater for anticipated growth over the next two-to-three years.
"We are getting the approvals shortly,” he said.
Looking ahead, the airline is "buoyed” by strong market growth, lower fuel prices and new top management executives that will shape the airline's network and commercial planning, he said.
In May, the airline said it hired Paul Carroll as chief commercial officer. The former chief commercial officer of the AirAsia Group brings more than 20 years of aviation experience.
"You've seen what AirAsia has done in terms of growth, you can get an early peek into where we are going to go and how we're going to do it,” Mr Pasupathi said.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Results
Stage 5:
1. Jonas Vingegaard (DEN) Team Jumbo-Visma 04:19:08
2. Tadej Pogacar (SLO) UAE Team Emirates 00:00:03
3. Adam Yates (GBR) Ineos Grenadiers
4. Sergio Higuita (COL) EF Education-Nippo 00:00:05
5. Joao Almeida (POR) Deceuninck-QuickStep 00:00:06
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates 17:09:26
2. Adam Yates (GBR) Ineos Grenadiers 00:00:45
3. Joao Almeida (POR) Deceuninck-QuickStep 00:01:12
4. Chris Harper (AUS) Team Jumbo-Visma 00:01:54
5. Neilson Powless (USA) EF Education-Nippo 00:01:56
UAE currency: the story behind the money in your pockets
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
MATCH INFO
Austria 2
Hinteregger (53'), Schopf (69')
Germany 1
Ozil (11')
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
MORE ON INTERNATIONAL JUSTICE
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The biog
Born: Kuwait in 1986
Family: She is the youngest of seven siblings
Time in the UAE: 10 years
Hobbies: audiobooks and fitness: she works out every day, enjoying kickboxing and basketball
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Ovasave%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20November%202022%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Majd%20Abu%20Zant%20and%20Torkia%20Mahloul%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Healthtech%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%20Three%20employees%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-seed%3Cbr%3E%3Cstrong%3EInvestment%3A%3C%2Fstrong%3E%20%24400%2C000%3C%2Fp%3E%0A
Rashid & Rajab
Director: Mohammed Saeed Harib
Stars: Shadi Alfons, Marwan Abdullah, Doaa Mostafa Ragab
Two stars out of five
COMPANY%20PROFILE
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Ireland (15-1):
Ireland (15-1): Rob Kearney; Keith Earls, Chris Farrell, Bundee Aki, Jacob Stockdale; Jonathan Sexton, Conor Murray; Jack Conan, Sean O'Brien, Peter O'Mahony; James Ryan, Quinn Roux; Tadhg Furlong, Rory Best (capt), Cian Healy
Replacements: Sean Cronin, Dave Kilcoyne, Andrew Porter, Ultan Dillane, Josh van der Flier, John Cooney, Joey Carbery, Jordan Larmour
Coach: Joe Schmidt (NZL)
Match info
Who: India v Afghanistan
What: One-off Test match, Bengaluru
When: June 14 to 18
TV: OSN Sports Cricket HD, 8am starts
Online: OSN Play (subscribers only)
Squads
Australia: Finch (c), Agar, Behrendorff, Carey, Coulter-Nile, Lynn, McDermott, Maxwell, Short, Stanlake, Stoinis, Tye, Zampa
India: Kohli (c), Khaleel, Bumrah, Chahal, Dhawan, Shreyas, Karthik, Kuldeep, Bhuvneshwar, Pandey, Krunal, Pant, Rahul, Sundar, Umesh
MATCH INFO
Champions League quarter-final, first leg
Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)
Matches can be watched on BeIN Sports
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
The bio
His favourite book - 1984 by George Orwell
His favourite quote - 'If you think education is expensive, try ignorance' by Derek Bok, Former President of Harvard
Favourite place to travel to - Peloponnese, Southern Greece
Favourite movie - The Last Emperor
Favourite personality from history - Alexander the Great
Role Model - My father, Yiannis Davos