Air Arabia reported strong financial results for the second quarter of 2017, registering a net profit of AED158mn, an increase of 21% compared to the AED131mn reported for the same period last year. The companys turnover for Q2 2017 increased to AED 906mn, compared to AED 894mn in the corresponding period last year.
The companys turnover for Q2 2017 increased to AED906mn, compared to AED894mn in the corresponding period last year.
As the Middle East and North Africas (MENA) first and largest low-cost carrier, Air Arabia has served over 2.05 million passengers in Q2 2017 alone, while the average seat load factor or passengers carried as a percentage of available seats for the same quarter stood at an impressive 79%.
Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia, said: Air Arabias strong second quarter financial performance is a testament to the carriers operational efficiency and robust growth strategy. Despite the continuous pressure on yield margins, which is driven by the market and the economic environment, Air Arabia managed to register a solid second quarter net profit backed by the carriers cost control measures, operational efficiency and combined with its momentum growth.
The airline saw a net profit of AED261mn for the first six months of 2017, up 7% compared to the corresponding period of 2016, while the turnover for the first six months of this year reached AED1.71bn. The carrier served over 4.1 million passengers in the first six months of 2017 with an average seat load factor of 79%.
Commending the companys performance, Al Thani, added: 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 as delivering even more value for money air travel to our customers.
Air Arabia received two new Airbus A320 aircraft in the first half of 2017 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.