TTME December 2017_Pg 6_2nd

Air Arabia stands strong

In the third quarter, ending September 30, Air Arabia registered a net profit of AED 376 million, an increase of 27 per cent compared to the same period last year.

TT BUREAU

Air Arabia’s turnover for the third quarter of 2017 increased by four per cent to AED 1.16 billion, compared to AED 1.12 billion in the corresponding period last year. Air Arabia served over 2.33 million passengers in the third quarter of 2017, an increase of three per cent compared to the same period of last year while the average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an impressive 81 per cent.
Sheikh Abdullah Bin Mohammad Al Thani, Chairman, Air Arabia, said, “The solid third quarter results reflect the continuous appeal for our value driven product combined with the cost control measures and robust growth strategy adopted by the airline management team. We are glad to see Air Arabia delivering strong financial performance throughout 2017 despite the continuous pressure on yield margins that airlines in the region are witnessing.”
Air Arabia’s net profit for the first nine months of 2017 stood at AED 637 million, up 18 per cent compared to the corresponding period of 2016 while the turnover for the first nine months of this year reached AED 2.88 billion. Air Arabia received three new Airbus A320 aircraft in the first nine months of 2017 ending September 30 and added 14 new routes from its five operating hubs in the UAE, Morocco, Egypt and Jordan. The carrier currently serves a global destination network of 133 routes across the world. “Air Arabia continued its robust growth in the first nine months of this year and while we maintain our expansion, we remain focused on providing customers with the world’s best value driven air travel while focusing on operational ef- ficiency and cost control,” Al Thani concluded.

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