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Air Arabia third quarter profit up 57%

By Arabian Post Staff

Air Arabia announced a record net profit of AED 471 million for the three months ending September 30, 2019; an increase of 57 per cent compared to the AED 300 million reported for the same period last year. The company’s turnover for the third quarter of 2019 increased by 12 per cent to AED 1.438 billion, compared to AED 1.282 billion in the corresponding period last year.

The strong third quarter financial results were backed by solid growth in passenger demand during this period with Air Arabia serving over 3.4 million passengers from its four hubs in the UAE, Morocco and Egypt, an increase of 10 per cent compared to the number of 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 82 per cent.

Equally, Air Arabia reported strong set of results for the first nine months ending September 30, 2019 registering a record net profit of AED 809 million; a 53 per cent increase compared to AED 530 million reported for the same period last year. The company’s turnover for the first nine months of 2019 exceeded AED 3.611 billion, an increase of 17 per cent compared to AED 3 billion in the corresponding period last year. Air Arabia served over 9.2 million passengers from all its four hubs in the first nine months of 2019, an increase of 11 per cent compared to the same period of 2018. The average seat load factor – or passengers carried as a percentage of available seats – for the same period stood at an impressive 83 per cent.

During the first nine months of 2019, Air Arabia received two brand new Airbus A321 neo LR airplanes bringing its total fleet size to 55 aircraft. The new Airbus A321, which accommodates 215 passengers, is helping the carrier expand to new medium-haul markets in addition to strengthening the existing routes with increased seat capacity.

Air Arabia added a total of 12 new routes to its global network in the first nine months of this year. Flights from Air Arabia’s main hub in the UAE commenced from Sharjah to Vienna in Austria; Kuala Lumpur in Malaysia; Bishkek in Kyrgyzstan; and Tunis City in Tunis. The carrier also expanded its operation from its Morocco hub with new flights between Casablanca and Lisbon, Pisa, Prague and Tunis while new flights started between Tangier and Lyon. New flights from the carrier’s hub in Egypt started from Sharm El Sheikh to Milan Bergamo, Amman and Napoli; as well as Sohag to Riyadh.

 


Also published on Medium.