Air Arabia H1 profit up 7% to Dh261m

 

Air Arabia H1 profit up 7% to Dh261m

Dubai - Its turnover increased to Dh906 million compared to Dh894 million in the corresponding period last year as it served over 2.05 million passengers.

By Staff Report

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Published: Mon 7 Aug 2017, 5:08 PM

Last updated: Mon 7 Aug 2017, 7:09 PM

Low-cost carrier Air Arabia on Monday said it registered net profit of Dh158 million compared to Dh131 million reported for the same period last year, an increase of 21 per cent.

Its turnover increased to Dh906 million compared to Dh894 million in the corresponding period last year as it served over 2.05 million passengers in the second quarter of 2017. Average seat load factor stood at 79 per cent.

Air Arabia chairman Sheikh Abdullah bin Mohammad Al Thani: "Despite the continuous pressure on yield margins, which is driven by the market and the economic environment, Air Arabia managed to register a solid second quarter net profit backed by the carrier's cost control measures, operational efficiency and combined with its momentum growth."

The Sharjah-based carrier's net profit for the first half of 2017 stood at Dh261 million, up 7 per cent compared to the corresponding period of 2016 while turnover reached Dh1.716 billion. It served over 4.1 million passengers in the first six 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 79 per cent.

Air Arabia received two new Airbus A320 aircraft in the first half of 2017 ending June 30 and added 12 new routes from its five operating hubs in the UAE, Morocco, Egypt and Jordan. Air Arabia currently serves a global destination network of 130 routes across the world.

waheedabbas@khaleejtimes.com


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