Posted on: 11 August 2014 by Mark Howells
Air Arabia has reported a net profit of AED 173 million for the second financial quarter of 2014 (2Q14, which ended on 30 June), up 128% from the AED 76 million for the corresponding period in 2013.
In 2Q14, Air Arabia posted a turnover of AED 915 million, an increase of 15% compared to AED 797 million in 2Q13.
The second quarter saw Air Arabia’s load factor at 84%, with the airline carrying 8% more passengers than in 2Q13. Having carried 1.5 million passengers in 2Q13, in 2Q14 it carried more than 1.6 million.
“Air Arabia’s outstanding start to 2014 has accelerated in the second quarter as the investments made into our operational capacity and cost management have continued to deliver results,” remarked Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia.
He went on to mention Air Arabia’s overall figures for the first half of 2014, saying, “The average yield for the first half 2014 has also increased by 6%, a record that is not only among the highest in the industry, but that also reflects the true low-cost management practices that Air Arabia follows.”