Low cost carrier Air Arabia reported a profitable first quarter (January to March) 2021 despite COVID-19 continued impact on the aviation’s industry financial and operational performance.
The budget airline reported a net profit of AED 34 million for the three months ending March 31, 2021, a 52 percent less than the corresponding 2020 figure of AED 71 million. In the same period, the airline posted a turnover of AED 572 million, a 37 percent less than the corresponding first quarter of last year. More than 1.3 million passengers flew with Air Arabia between January and March 2021 across the carrier’s five hubs while the airline’s average seat load factor – or passengers carried as a percentage of available seats – during the first three months of 2021 maintained a high average and stood at 77 per cent.
Air Arabia managed to register a profitable first quarter despite COVID-19 pandemic continuous impact on the industry’s bottom-line. According to IATA, international passenger traffic fell more than 80% in first quarter 2021 compared to pre-pandemic as travel restrictions tightened in the face of continuing concerns over coronavirus spread.
While flight resumption during the pandemic remains subject to restrictions and changing travel regulations, Air Arabia managed during the first quarter of this year to resume operations to a selected number of destinations across its five hubs in the UAE, Morocco and Egypt. The limited resumption of flights across various markets helped support the first quarter financial and operational performance.
