Posted on: 06 November 2015 by Ross McSweeny
Air Arabia has announced that during the first nine months of 2015 it recorded a net profit of AED472 million, which is 5% lower than the corresponding period last year, but that airline turnover reached AED2.87 billion, an increase of 2% on the corresponding 2014 figure.Passenger numbers increased by 11% year-on-year in the first nine months of 2015 to reach 5.7 million passengers. The average load factor for the period was 79%.Revenues for the three months ending September 30, 2015, increased by 6% to stand at AED1.1 billion compared with AED1 billion for the same period of 2014. Net profit in the third quarter of 2015 reached AED235 million, 6% lower than the corresponding 2014 figure of AED251 million. More than 2 million passengers were served in the third quarter of 2015, an 18% increase on the corresponding period of 2014, while the average seat load factor was 80 percent.“Despite increased pressure on yield margins, spare capacity in the market and protracted political uncertainty within the region, Air Arabia continues to deliver strong profits and solid business growth while serving ever-increasing numbers of passengers,” noted Sheikh Abdullah Bin Mohammed Al Thani, chairman of Air Arabia. “The company continued its expansion mode throughout 2015 and we have launched 21 new routes this year, in addition to a multiple award-winning products and services.“We remain focused on expanding operations and entering new markets while consolidating our leading position in existing markets as well as delivering an innovative and appealing product offering to our customers every day,” he concluded.