1. Jazeera Airways, as Parent Company, has two subsidiaries which are “Al Sahaab Aircraft Leasing Company W.L.L.” as an intermediate Parent Company, and “Al Sahaab Aviation LLC” as Subsidiary of Intermediate Parent Company. Jazeera Airways with the two subsidiaries companies together are called “Jazeera Group”. The group is operating its services in the field of air transportation and commercial passenger services under a license from the Directorate General of Civil Aviation. The financial statement of Jazeera Group has been prepared according to International Financial Reporting Standards (IFRS) that issued by the International Accounting Standards Board (IASB) and Interpretations issued by the International Financial Reporting Interpretations Committee (IFRIC).
2. Operating Revenue refers to the incomes that derived from everyday operations. As…show more content… It is headquarter in the United Arab Emirates. Air Arabia is public airline that considered as first and largest Low Cost Carrier (LCC). (Air Arabia Website, 2015) As shown in its annual report 2013, The company achieved net profit increased 14% than it was in 2012 equaled AED 435 million , while revenues reached about AED3.2 billion which increased 8% from 2012. Moreover, the number of carried passengers is also increased 14.5% from 1.366 to 1.565 million in 2013. (Air Arabia Annual Report 2013)
While Air Arabia Airways are operating in 90 destinations over the Middle East, North Africa, Indian Subcontinent, Central Asia and Europe, Jazeera is operating in 28 destinations in the Middle East, North Africa, and South East Asia. Moreover, by calculating the debt to equity ratio for both companies, Air Arabia Airways equaled 0.687% which is less than that on Jazeera Airways. Thus, Air Arabia Airways is stronger position and lower risk and as well as stronger position and better performance. (Air Arabia Annual Report