Posted on: 12 May 2014 by Mark Howells
Air Arabia has reported a net profit of AED 75 million for the first quarter of the year, ending 31 March 2014 (1Q14), an increase of 27% compared with the AED 59 million reported in the corresponding quarter of 2013.
In 1Q14, Air Arabia posted a turnover of AED 827 million, up 14.5% compared with AED 722 million in 1Q13.
The airline carried 1,630,000 passengers in 1Q14, an increase of 12% over the 1,450,000 passengers carried in 1Q13. The airline’s average seat load factor during the first three months of 2014 was 81.5%.
“Air Arabia has enjoyed a remarkable start to the year, which builds on our long and proud track record of success and achievement,” commented Sheikh Abdullah Bin Mohammed Al Thani, chairman of Air Arabia. “Our route, fleet and hub expansion strategy continues to deliver profitability while bringing ever greater connectivity and flexibility to people across the Middle East and North Africa.”
Al Thani continued, “We remain confident about the long-term prospects for the industry and fully intend to continue spreading our value-for-money philosophy to more destinations and more passengers in the future.”