Air Arabia reports robust H1 profit of AED245m
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Air Arabia reported a net profit of AED 245 million for the first half of 2016 ending June 30, 2016, up 3.5% compared to the AED 237 million reported for the same period last year.
The company’s turnover for the first six months of 2016 reached AED 1.84 billion, compared to AED 1.75 billion in the corresponding period last year, an increase of 5.5%.
Marking robust growth in passenger demand, Air Arabia flew 4.1 million passengers during the first half of 2016 – up 14% year on year. The airline’s average seat load factor for the first six months of 2016 – passengers carried as a percentage of available seats – stood at impressive 79%.
Sheikh Abdullah Bin Mohamed Al Thani, chairman of Air Arabia said: “Air Arabia’s strong financial results are a testament to the airline’s unwavering commitment to delivering on its value-added proposition for customers combined with its operational efficiency and the effectiveness of its wider growth strategy. Despite the continuous pressure on yield margins that airlines are witnessing and the challenges associated with the regional economic outlook, Air Arabia continues to deliver solid financial performance and momentum growth,”
He added: “We remain optimistic about the outlook of low-cost travel in the wider region as we continue to focus on further expanding our network and operational efficiency as well as leveraging on emerging travel trends by delivering even more value to our customers”.
Air Arabia flew more than two million passengers in the second quarter ending June 30, 2016, up 12% compared to the same period in 2015. The airline’s average seat load factor hit 78% while turnover reached AED 894 million, up 4% year on year.
During the first half of 2016 Air Arabia received three brand new aircraft and added new flights to Sarajevo in Bosnia and Herzegovina from its main hub at Sharjah. In the same period, Air Arabia Jordan expanded its operations by launching a new route from Amman to Riyadh, while Air Arabia Maroc launched two new routes connecting Marrakech to Pau and Fez to Toulouse.
Air Arabia today operates flights to more than 120 global destinations in 33 countries from five hubs in the UAE, Morocco, Egypt and Jordan.
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