LOW cost carrier Air Arabia reported a record net profit of Dh566 million ($154 million) for 2014, up 30 per cent compared to the same period in 2013. This is despite a 28 per cent drop in net profit for the fourth quarter 2014, due to fuel hedging.
Last year’s turnover reached Dh3.7 billion ($1 billion), an increase of 17 per cent on 2013, driven by increased passenger numbers. Air Arabia carried over 6.8 million passengers in 2014, 12 per cent more than last year. The average seat load factor – or passengers carried as a percentage of available seats – for the same period stood at 81 per cent.Air Arabia chairman Sheikh Abdullah Bin Mohammad Al Thani attributed these positive results to the airline’s continued expansion into new markets, along with the delivery of consistent quality and value to its customers.Al Thani said, “The year 2015 continues to witness political uncertainty in some parts of the region and with the current fluctuating fuel prices, the pressure on the global economies is increasing. Despite the regional and global economical and geo-political challenges, we remain highly confident about the long-term prospects for our business.” Air Arabia recently launched its inaugural flight in Urumqi, located in the Xinjiang district of China, marking the carrier’s 101st global destination. The carrier flies three times weekly to Urumqi from its main hub in Sharjah. Flights depart Sharjah International Airport on Tuesdays, Fridays and Sundays at 09:35, arriving at Urumqi International Airport at 18:15 that evening. Return flights leave Urumqi on the same days at 19:05 and arrive in Sharjah at 20:45.Now in its 11th year of successful operations, Air Arabia operates flights to 101 destinations. It has seen its flight network expand substantially with the addition on prominent new routes, such as Cairo in Egypt and Antalya in Turkey, from its main base at Sharjah International Airport. The carrier now operates from five international hubs, including the UAE (Sharjah and Ras Al Khaimah), Morocco, Egypt and Amman, Jordan. In the first half of 2014, Air Arabia opened its fourth international hub in Ras Al Khaimah.