Air Arabia Q2 net up 14.4pc to $22.3m
Dubai, August 3, 2008
Air Arabia, the Middle East’s biggest low-cost carrier, posted a 14.4 per cent rise in second-quarter profit to Dh82 million ($22.32 million).
The company’s net profit for the first half of this year stood at Dh160 million ($43.5 million), an increase of 39 per cent when compared to Dh115 million ($31.4 million) for the first six months of last year.
During the first half of 2008, the company registered a turnover of Dh871 million, up 70 per cent from Dh513 million for the first half of 2007.
The airline’s average seat load factor stood at an extremely impressive 86 per cent, up 3.6 per cent compared to the same period in 2007, said a top airline official.
Air Arabia’s turnover for the second quarter of this year reached Dh487 million, up 79 per cent compared to Dh272 million for the second quarter of 2007.
The airline carried more than 1.6 million passengers during the first half of 2008, a 33 per cent increase compared to 1.2 million passengers during the same period last year.
It served around 866,272 passengers in the second quarter of this year, up 34 per cent compared to 646,000 passengers in the second quarter of 2007, he said.
’During a period of unprecedented challenges for the global aviation industry as a result of the continuously soaring oil price, we are extremely proud of these results, which demonstrate Air Arabia’s ability to continue to deliver sustained growth and excellent returns to our investors,’ said Sheikh Abdullah Bin Mohammed Al Thani, chairman of Air Arabia.
’We believe that Air Arabia enjoys the proper model and infrastructure needed to remain amongst the most profitable airlines in the world,’ he noted.
“Focusing on organic expansion and operational reliability, Air Arabia will remain committed to providing comfort, convenience and value-for-money service to our passengers, and continually upgrading our destination network to serve the widest number of cities in the Middle East, North Africa, South and Central Asia,” he added.-TradeArabia News Service