(MENAFN) Kuwaiti Jazeera Airways' group chairman, Marwan Boodai, stated that the carrier managed to increase its capital by 74 percent to USD149 million, reported Arabian Business.
The move was achieved through issuing 178 million shares, priced at USD0.354 each.
Boodai said that the over subscribed rights issue is one of the most successful issues in the emirate in recent years.
The carrier, which has a fleet of 15 A320 planes, may use the extra capital in expanding its business.
Jazeera Airways third-quarter net profit jumped 24.6 percent from 2011's same period to USD26.9 million, whereas operating revenue went up 5.9 percent to USD72.34 million.
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