Air Arabia posts Dh472m 9-month profit, revenue up
Air Arabia's global destination network has reached 115 routes and 21 new routes added to the airline's network in the first nine months of 2015. - Supplied photo
Sharjah - The airline's turnover reached Dh2.87 million.
By Staff Reporter
Published: Sat 7 Nov 2015, 11:00 PM
Last updated: Sun 8 Nov 2015, 7:47 AM
Air Arabia on Saturday reported a two per cent increase in turnover, an 11 per cent growth in passenger numbers and a decline of five per cent in its net profit for the first nine months of 2015.
The Sharjah-based low-cost carrier posted a profit of Dh472 million for January to September period. The airline's turnover reached Dh2.87 million.
Passenger numbers increased by 11 per cent year-on-year in the first nine months of 2015 reaching 5.7 million passengers. The average seat load factor - or passengers carried as a percentage of available seats - for the period stood at an impressive 79 per cent.
"Despite increased pressure on yield margins, spare capacity in the market and protracted political uncertainty within the region, Air Arabia continues to deliver strong profits and solid business growth while serving ever-increasing numbers of passengers. The company continued its expansion mode throughout 2015 and we have launched 21 new routes this year, in addition to a multiple award-winning products and services," Shaikh Abdullah bin Mohammed Al Thani, Chairman of Air Arabia, said in a statement.
"We remain focused on expanding operations and entering new markets while consolidating our leading position in existing markets as well as delivering an innovative and appealing product offering to our customers every day," he said.
Air Arabia global destination network has reached 115 routes and 21 new routes added to the airline's network in the first nine months of 2015, as the airline continued to implement its expansion strategy, including the opening of a fifth international hub in Jordan earlier this year.
Revenues for the three months ending September 30, 2015, increased by six per cent to stand at Dh1.1 billion, compared with Dh1 billion in the same period of 2014. Net profit in the third quarter of 2015 reached Dh235 million, six per cent lower than the corresponding 2014 figure of Dh251 million.
More than two million passengers were served in the third quarter of 2015, an 18 per cent increase on the corresponding period of 2014, while the average seat load factor was 80 per cent.
Air Arabia was named 'Airline of Year' at the recent Aviation Business Awards that took place in Dubai. The carrier was also named "Best Low-cost Airline in the Middle East" at the annual Skytrax World Airline Awards in France.