Air Arabia Q2 net profit jumps 75 percent to $57 million

Friday, August 9, 2019

Air Arabia recorded a net profit of U.S. Dollars 57.1 million (Dh210 million) in the second quarter of the year, which is a 75 per cent increase compared to the corresponding 2018 figure of U.S. Dollars 32.6 million (Dh120 million). In the same period, the airline posted a turnover of U.S. Dollars 311.3 million (Dh1.144 billion), a 22 per cent increase compared to the second quarter of last year, the airline said in a statement.

The strong financial and operational results for the second quarter of the year was attributed to the solid growth in passenger demand with Air Arabia serving over 3 million passengers from its four hubs in the UAE, Morocco and Egypt, an increase of 16 per cent compared to 2.59 million passengers carried in the same quarter last year. The average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an impressive 84 per cent.

As per Sheikh Abdullah Bin Mohamed Al Thani, chairman of Air Arabia, the  record second quarter and first half 2019 performance reflects the strength of their business model as well as the appealing demand for the value-driven services that Air Arabia offers.

The carrier added a total of 10 new routes to its global network in the first half of this year. Flights from Air Arabia’s hub in Morocco commenced from Casablanca to Lisbon, Pisa, Prague and Tunis while new flights started between Tangier and Lyon; Fez and Rome. The carrier also expanded its operation from its Egypt hub with new flights connecting Sharm El Sheikh to Milan Bergamo, Amman and Luxor; as well as Sohag to Riyadh.

Air Arabia also announced the launch of four new destinations from its main hub in Sharjah to Kuala Lumpur, Tunis, Vienna and Bishkek with flights commencing in the third quarter of this year.

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