Posted on: 11 November 2013 by Mark Howells
Air Arabia has announced its financial results for the nine months ending 30 September 2013, featuring a net profit for the period of AED 341 million.
The net profit figure is in line with the net profit recorded for the corresponding period of 2012. During the first nine months of 2013, the company registered a turnover of AED 2.3 billion, up by 14% compared with AED 2 billion during the same period of 2012.
The airline registered a 15% increase in passenger traffic to 4.5 million during the nine month of 2013. The average seat load factor for the period was 81%.
Air Arabia’s net profit for the three months ending 30 September, stood at AED 206 million, down 9% compared with the AED 226 million recorded during the same period last year. The drop in third quarter net profits is mainly driven by travel seasonality with the month of Ramdan having occurred in July-August this year.
In the third quarter of 2013, Air Arabia took delivery of two A320s from Airbus, and expects the delivery of two more before the end of the year.