Jazeera Airway, the Kuwaiti low cost carrier, made a net profit of KD 2 million (US $7.15 million) in the fourth quarter of 2010.
This compared with a loss of KD 6.73 million in the fourth quarter of 2009.
For the whole of 2010, the airline made a net loss of KD 2.8 million, after losing money in the first hald. This was down from a loss of KD 8.2 million in 2009.
“Looking forward, we are optimistic about 2011 and working hard on sustaining profitability for the year,” Marwan Boodai, chairman, said in a statement.
Jazeera turned around its performance in the second half of 2010 after downsizing and making progress in the aircraft leasing business.