Somalilandsun : Air Arabia (PJSC) today announced strong financial results for the second quarter of this year ending June 30, 2017as the Middle East and North Africa’s first and largest low-cost carriercontinued to deliver robust and sustained performance.
Air Arabia’s financial resultsfor the second quarter ending June 30, 2017 exceeded analysts’expectations and registered a net profit ofAED158 million, an increase of21percentcompared to the AED 131 millionreported for the same period last year. The company’s turnover for the second quarterof 2017increased to AED 906million, compared to AED 894million in the corresponding period last year.Air Arabia served over 2.05 million passengers in the second quarter of 2017, whilethe average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an impressive 79 per cent.
Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia said:“Air Arabia’s strong second quarter financialperformance isa testament to the carrier’soperational efficiency and robustgrowth strategy. Despite the continuous pressure on yield margins, which is driven by the market and theeconomicenvironment, Air Arabia managed to register a solid second quarter net profit backed by the carrier’s cost control measures, operational efficiency and combined with itsmomentum growth”.
Air Arabia’s net profit for the first six months of 2017 stood at AED 261 million, up 7 per cent compared to the corresponding period of 2016 while the turnover for the first six months of this year reached AED 1.716 billion. The low-cost aviation pioneer served over 4.1 million passengers in the first six months of 2017 while the average seat load factor – or passengers carried as a percentage of available seats – for the same period stood at an impressive 79 per cent.
“The first half of this year have seen Air Arabia continue its robust growth by launching new routes and increasing capacity across its operating hubs while remaining focused on driving operating cost margins lower by the day” Al Thani continued.
Air Arabia received two new Airbus A320 aircraft in the first half of 2017 ending June 30 and added 12 new routes from its five operating hubs in the UAE, Morocco, Egypt and Jordan. Air Arabia currently serves a global destination network of 130 routes across the world.
Heconcluded: “We are confident about the appeal of low cost travel in general and Air Arabia services in particular across the markets we operate in. As we continue to further expand our reach and network, we remain focused on operational efficiency, cost control as well asdelivering even more value for money air travel to our customers”.
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OAbout Air Arabia:
Air Arabia (PJSC), listed on the Dubai Financial Market, is the Middle East and North Africa’s leading low-cost carrier (LCC). Air Arabia commenced operations in October 2003 and currently operates a total fleet of 48 new Airbus A320 aircraft, serving some 130 routes from five hubs in the UAE, Morocco, Egypt and Jordan.
Air Arabia is an award-winning airline that focuses on offering comfort, reliability and value-for-money air travel. For further information, please visit: www.airarabia.com.