Air Arabia post AED59 million Q1 net profit
Guest Writers are not employed, compensated or governed by TD, opinions and statements are from the specific writer directly
Air Arabia has witnessed a positive first quarter ending 31 March 2013. The airline reported a net profit of AED59m for the three months and registering an increase of 20%. The current profit is up AED49m in the corresponding quarter of 2012.
In the first quarter of this year, the airline posted a turnover of AED722m, an increase of 22% compared to AED594m in the same period of 2012. The airline carried 1.4m passengers in first quarter of this year. The passenger number represents 18% growth compared to the same period last year. The average seat load factor – or passengers carried as a percentage of available seats – stood at an impressive 82%.
Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia said: “The airline is on a steady growth trajectory, sustained profitability and solid growth margins to enter new geographies and launch new ventures.”
The airline will receive four more A320 aircraft this year, which is in line with Air Arabia’s growth plan to further expand its geographic network and significantly grow the size of its fleet by 2016.
