Air Arabia Posts Strong Third Quarter Net Profit Of AED 376 Million, up 27%

Published on : Monday, November 6, 2017

Air ArabiaAir Arabia (PJSC), the Middle East and North Africa’s first and largest low-cost carrier, today announced strong financial results for the third quarter of this year ending September 30, 2017 as the carrier continued to deliver solid and sustained operational and financial performance.

 

 

Air Arabia’s financial results for the third quarter ending September 30, 2017 exceeded analysts’ expectations and registered a net profit of AED 376 million, an increase of 27 per cent compared to the AED 297 million reported for the same period last year. The company’s turnover for the third quarter of 2017 increased by 4 per cent to AED 1.16 billion, compared to AED 1.12 billion in the corresponding period last year. Air Arabia served over 2.33 million passengers in the third quarter of 2017, an increase of 3% compared to the same period of last year while the average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an impressive 81 per cent.

 

 

Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia said: “The solid third quarter results reflect the continuous appeal for our value driven product combined with the cost control measures and robust growth strategy adopted by the airline management team. We are glad to see Air Arabia delivering strong financial and operational performance throughout 2017 despite the continuous pressure on yield margins that airlines in the region are witnessing.”

 

 

Air Arabia’s net profit for the first nine months of 2017 stood at an impressive 637 million, up 18 per cent compared to the corresponding period of 2016 while the turnover for the first nine months of this year reached AED 2.88 billion. Air Arabia served over 6.5 million passengers in the first nine months of 2017 while the average seat load factor – or passengers carried as a percentage of available seats – for the same period stood at an impressive 80 per cent.

 

 

Air Arabia received three new Airbus A320 aircraft in the first nine months of 2017 ending September 30 and added 14 new routes from its five operating hubs in the UAE, Morocco, Egypt and Jordan. The carrier currently serves a global destination network of 133 routes across the world.

 

 

“Air Arabia continued its robust growth in the first nine months of this year and while we maintain our expansion and reach across all markets, we remain focused on providing customers with the world’s best value driven air travel while focusing on operational efficiency and cost control” Al Thani concluded.

 

 

Source:- Air Arabia

Tags: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 01 AIME 2018 BB
  • 02 WTM Latin America 2018
  • 03 IMEX 2018
  • 04 AIME-2018 small
  • 05 itb-china 2018
  • 06 TTF-2018
  • 08 mice-arabia 18
  • 09 JTTX 2018
  • 09 The hotel shows audiarabia 18
  • 10 hotelfair 2018
  • 10 miceforum 18
  • 11 Digital Travel 2018
  • 11 Hotelex-Shanghai 18
  • 12 mitt 18
  • 13 aitf 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com