Air Arabia Q1 profit up 27pc to $20m
Sharjah, May 12, 2014
Air Arabia, a leading low-cost carrier, reported a net profit of Dh75 million ($20.4 million) for the first quarter of the year, representing an increase of 27 per cent compared to Dh59 million reported in the corresponding quarter of 2013.
In the first quarter of this year, Air Arabia posted a turnover of Dh827 million, an increase of 14.5 per cent compared to Dh722 million in the same period of 2013.
The airline served 1,630,000 passengers in the first quarter of 2014, an increase of 12 per cent compared to the 1,450,000 passengers carried in the same period of last year. The airline’s average seat load factor – or passengers carried as a percentage of available seats – during the first three months of 2014 stood at an impressive 81.5 per cent.
“Air Arabia has enjoyed a remarkable start to the year, which builds on our long and proud track record of success and achievement,” said Sheikh Abdullah Bin Mohammed Al Thani, chairman of Air Arabia. “Our route, fleet and hub expansion strategy continues to deliver profitability while bringing ever greater connectivity and flexibility to people across the Middle East and North Africa”.
Ali added: “We remain confident about the long-term prospects for the industry and fully intend to continue spreading our value-for-money philosophy to more destinations and more passengers in the future.” - TradeArabia News Service