Air Arabia Q1 net profit jumps 34pc

09/05/2016 10:50 AST

Air Arabia has reported a net profit of Dh114 million ($31 million) for the first three months of the year, up 34 per cent on the corresponding 2015 figure of Dh85 million ($23.1 million).

In the same period, the airline posted a turnover of Dh946 million ($257.5 million), an increase of 7 per cent on Dh886 million ($241.2) in the first quarter of last year.

The airline flew more than 2.1 million passengers between January and March 2016, 17 per cent higher than the corresponding 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 2016 stood at an impressive 81 per cent.

Sheikh Abdullah Bin Mohamed Al Thani, chairman of Air Arabia, said: “Air Arabia has made an excellent start to 2016, maintaining the momentum we established last year and attracting new customers to our brand. Our operational efficiency allied to the success of our route expansion strategy and the popularity of our value-add service proposition, leaves Air Arabia well placed to navigate the current macroeconomic challenges and benefit from the many opportunities in the region’s aviation sector.”

Air Arabia added two new routes from its main hub in Sharjah in the first three months of 2016, both of which strengthened its presence at the intersection of Europe and Asia. In March, it began direct flights between Sharjah and Sarajevo, the capital city of Bosnia and Herzegovina, bringing this popular and historic city within easy reach of UAE visitors. This was followed by news that Air Arabia will operate seasonal direct flights from Sharjah to Batumi, Georgia, between July and September to cater to summer tourist demand. In addition, Air Arabia added three new routes in the first quarter of this year from its operating hubs in Morocco and Jordan.

Trade Arabia