Subscribe Free
in Business & Finance

Air Arabia delivers 2015 net profit of AED 531 million

Posted 8 February 2016 · Add Comment

Air Arabia has announced strong full-year financial results for 2015 as the Middle East and North Africa's first and largest low-cost carrier continued to deliver healthy growth and strong levels of profitability.

Air Arabia’s net profit for the full year ending December 31, 2015 was AED 531 million, 6 per cent lower than 2014 figure of AED 566 million. Turnover in 2015 reached AED 3.8 billion, an increase of 3 per cent on the preceding 12 months as the airline continued to expand its customer base. More than 7.6 million passengers flew with Air Arabia in 2015, a 12 per cent year-on-year increase. The average seat load factor – or passengers carried as a percentage of available seats – in 2015  stood at an impressive 79 per cent. 

Following its strong 2015 performance, Air Arabia’s Board of Directors proposed a dividend distribution of 9 per cent of share capital, which is equivalent to 9 fils per share. This proposal was made following a meeting of the Board of Directors of Air Arabia and is subject to ratification by Air Arabia’s shareholders at the company’s upcoming Annual General Meeting on February 25, 2016. 

“2015 was a year of growth and achievement for Air Arabia as our expansion strategy, efficient operations and tight cost controls reinforced our market leading position,” said Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia. “The impact of low oil prices continues to have its effect on the wider global economy, while pressure on yields and geo-political uncertainty continued to weigh on the aviation industry. Despite these challenges, Air Arabia once again delivered a strong set of numbers and remains well positioned for further growth in 2016.” 

 

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Flyadeal announces Abha as its newest destination

Flyadeal, Saudi Arabia’s Everyday Low Fares Airline, will add Abha to its growing route network this month.

Turkish Airlines' mobile app offers discount flight tickets

Turkish Airlines now offers 15% discount on its all domestic and international flights for passengers who download the latest version of the carrier' mobile app.

Qatar Airways hightlights 'Qsuite' at Kuwait Aviation Show

Qatar Airways showcased its patented, award-winning new Business Class seat, Qsuite, for the first time in 2018 at the Kuwait Aviation Show, along with the airline’s ultra-modern extra-wide body Airbus A350-900.

Turkish Technic and Onur Air sign Pool contract

Onur Air has signed component repair and access (pool) contract with Turkish Technics for its Airbus A330 aircraft. The contract will be effective until 2023.

Is there a real case for an international airport at Ajman?

A new international airport will serve the emirate of Ajman in the UAE from 2019. Keith Mwanalushi discusses the business case for the new gateway with John Grant, senior analyst at air travel intelligence specialist, OAG.

Sheikh Ahmed Bin Saeed approves DAFZA’s ‘Digital Intelligence Plan’

H.H. Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Airport Freezone Authority (DAFZA), has approved DAFZA’s ‘Digital Intelligence Plan 2018-2020’ developed in line with digital transformation initiatives such as the ‘Dubai

Kuwait Aviation SK1909310118
See us at
Istanbul Airshow BT22018BIAS BT271017161118ArabianTravelMkBT250418AIME BT1204240118Saudi Future Airports BT150318Global Aerospace BT2018Abu Dhabi AirExpo BT2018MEBAA BT2018Aviation Africa BT18418