Air Arabia profits rise 13% in first quarter

Air Arabia, the Sharjah-headquartered low cost carrier with hubs across the Middle East and North Africa, reported on Sunday a 13 per cent increase in its first quarter net profit.

The Dubai-bourse listed airline made Dh85 million for the three months ending March 31, compared to the Dh75 million it reported a year ago, Air Arabia said in an emailed statement. Revenue was Dh886 million, up 7 per cent compared to Dh827 million in the same quarter last year.

Passenger numbers rose 10 per cent to 1.8 million, the airline stated, filling an average 81 per cent of all seats during the first three months of the year.

"We are delighted to record another quarter of strong performance across our operations, with Air Arabia maintaining its steady, long-term growth trajectory,” Sheikh Abdullah bin Mohammed Al Thani, Air Arabia's Chairman, said in a statement.

"The increase in profits coupled with continuous growth in seat factors and ever expanding route strategy is a reflection of Air Arabia's sustainable business model,” he added.
Source: Gulf News