AIR Arabia has announced its financial results for the three months ending June 30 with profit showing at Dh 50 million ($13.6 million).
The figure represents a decline of 44 per cent compared to the same period in 2009 but the airline said this is in line with global industry performance, which continues to be impacted by changing market dynamics, characterised by an increase in fuel costs and continuous pressure on yield margins.
In the second quarter of the year, Air Arabia posted a turnover of Dh485 million ($132,041,055), an increase of six per cent compared to Dh458 million ($124,690,316) in the same period of 2009.
The carrier served 1,108,310 passengers in the second quarter of 2010, an increase of 11 per cent on last year, and the average seat load factor stood at an impressive 82 per cent, an increase of four per cent compared to 2009.
“We are pleased with Air Arabia’s solid performance,” said Sheikh Abdullah Bin Mohammad Al Thani, Air Arabia chairman. “The airline has embarked upon a phase of organic growth, now operating from three hubs across the region.
We are focused on further expanding our operations while strengthening our value-for-money offerings and innovative products.”