Just in:
Beyond Bullets and Barrels: UAE imports finance 125,000 US jobs // Credit Rating Agency Maintains Positive Outlook for Kuwait // 2024 China Corporate Payment Survey: Payment delays continued to shorten, but corporates increasingly cautious // Axe Management Partners Completes Purchase of Three Osaka Hotels from CapitaLand Ascott Trust // Lingnan launches LingnanVerse 2.0 BETA to attract top students from all over the world // 100 days of UAE’s COP28 presidency: Bouquets and brickbats // Cracking Down on Exploitation: UAE Outlines Penalties for Organized Begging // Maldives Tourism Triumphs: Visitor Numbers Surpass 100,000 for Third Consecutive Month This Year // National Push for Healthier Plates: Ministry Launches Campaign on Balanced Diets // ViewQwest Commits to Responsible Innovation in Brand Refresh // Adapting to the Digital Evolution: Strategies for Online Trading in the UAE // Stepping into History: Saudi Arabia Launches Virtual Realm for Cultural Exploration // Supreme Court deals another blow to govt, SBI in electoral bond case // Andertoons by Mark Anderson for Mon, 18 Mar 2024 // Whisky Hammer celebrates landmark 100th auction – its largest to date featuring over 5,000 lots // Cogent Realty Advisors Launches Guide to Most Collaborative Office Space for AI and Tech Companies In Downtown NYC // Fidelity Eyes Staking Rewards with Updated Ethereum ETF Proposal // HKSTP Unveils Top 74 Global Startups Confirmed for EPiC 2024 Grand Finale // VinFast Founder launches Global EV Charging Stations Company V-Green // Blue Cross Partners with AlipayHK on Easter Promotion Travel Smart 5-day Single-trip Cover for Only HK$1 //
HomeChannelsFeaturedAir Arabia third quarter profit up 57%

Air Arabia third quarter profit up 57%

1494417383 air arabia

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.

ADVERTISEMENT

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.

ADVERTISEMENT

ADVERTISEMENT
Just in:
Adapting to the Digital Evolution: Strategies for Online Trading in the UAE // Cracking Down on Exploitation: UAE Outlines Penalties for Organized Begging // National Push for Healthier Plates: Ministry Launches Campaign on Balanced Diets // Navigating AI landscape: Fostering digital agility and resilience // Maldives Tourism Triumphs: Visitor Numbers Surpass 100,000 for Third Consecutive Month This Year // Axe Management Partners Completes Purchase of Three Osaka Hotels from CapitaLand Ascott Trust // Blue Cross Partners with AlipayHK on Easter Promotion Travel Smart 5-day Single-trip Cover for Only HK$1 // China Tower (788.HK) Announces 2023 Annual Results // Cogent Realty Advisors Launches Guide to Most Collaborative Office Space for AI and Tech Companies In Downtown NYC // Lingnan launches LingnanVerse 2.0 BETA to attract top students from all over the world // VinFast Founder launches Global EV Charging Stations Company V-Green // Dubai Holding’s Consolidation Move Raises Questions About Property Market Stability // Credit Rating Agency Maintains Positive Outlook for Kuwait // Fidelity Eyes Staking Rewards with Updated Ethereum ETF Proposal // Gold Loses Shine as Investors Eye Interest Rate Decisions // 2024 China Corporate Payment Survey: Payment delays continued to shorten, but corporates increasingly cautious // Sharjah Government Announces Remote Work for Employees // 100 days of UAE’s COP28 presidency: Bouquets and brickbats // Beyond Bullets and Barrels: UAE imports finance 125,000 US jobs // Deceptive Doc Trick: Phishing Campaign Targets US Businesses with Remote Access Trojan //