19 November 2017

Value Travel


Air Arabia second quarter profits rise 21pc
September 2017 474

Air Arabia announced strong financial results for the second quarter of this year ending June 30, 2017 as the Middle East and North Africa’s first and largest low-cost carrier continued to deliver robust and sustained performance.

Air Arabia’s financial results for the second quarter exceeded analysts’ expectations and registered a net profit of $43 million, an increase of 21 per cent compared to the $35.6 million reported for the same period last year. The company’s turnover for the second quarter of 2017 increased to $246.6 million, compared to $243.4 million in the corresponding period last year. Air Arabia served over 2.05 million passengers in the second quarter of 2017, while the average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an impressive 79 per cent.

Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia said, “Air Arabia managed to register a solid second quarter net profit backed by the carrier’s cost control measures, operational efficiency and combined with its momentum growth. Air Arabia continued its robust growth by launching new routes and increasing capacity across its operating hubs while remaining focused on driving operating cost margins lower by the day.”   

 




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