Subscribe Free
in Business & Finance

Air Arabia posts third quarter net profit of AED 297 million, up 26%

Posted 14 November 2016 · Add Comment

Air Arabia has announced its financial results for the third quarter ending September 30, 2016.

Air Arabia’s net profit for the third quarter of 2016 was AED 297 million, up 26 per cent compared to AED 235 million reported in the corresponding period of 2015. For the three months ending September 30, 2016, the airline posted a turnover of AED 1.12 billion, in line with the revenue generated in the same period of 2015. Air Arabia served over 2.27 million passengers in the third quarter of 2016, a 14 per cent increase compared to 2 million passengers in the same period of last year. The average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an impressive 81 per cent. 

Sheikh Abdullah Bin Mohammed Al Thani, chairman of Air Arabia said: “The strong third quarter and year to date performance is a reflection of Air Arabia’s commercial and operational strengths supported by the company’s commitment to deliver high value air travel to its customers and return on investments to its shareholders."

He added: “Despite challenging trading conditions driven by excess capacity in the market, political instability in some markets and the effect of lower oil price in the regional economies, we remain confident about the long-term prospects for the low cost industry in region and our ability to continue with our growth plans while delivering our value-for-money promise to our customer’s everyday." 

Air Arabia’s net profit for the first nine months of 2016 stood at AED 542 million, up 15 per cent compared to AED 472 million reported in the corresponding period of 2015. For the nine months ending September 30, 2016, the airline posted a turnover of AED 2.96 billion, an increase of 3 per cent compared to AED 2.86 billion in the same period of 2015. The low-cost aviation pioneer served over 6.3 million passengers in the first nine month of 2016, a 14 per cent year-on-year increase. The average seat load factor – or passengers carried as a percentage of available seats – for the same period stood at an impressive 80 per cent.

* required field

Post a comment

Other Stories
Advertisement
Latest News

GCAA invites submissions for its second Aeronnovation Award Program

UAE General Civil Aviation Authority (GCAA) is inviting submissions for its Second Aeronnovation Award Program for the year 2017.

Emirates adds three new A380 destinations

Emirates has launched three A380 destinations, bringing its flagship three-class double-decker aircraft from Dubai to Tokyo- Narita, Casablanca and Sao Paulo on the same day.

Qatar Airways switches the lights of its headquarters to encourage combat of climate change

To mark Earth Hour on 25 March 2017, Qatar Airways switched off the lights at its corporate headquarters between 8:30 and 9:30pm in an effort to encourage communities and individuals to come together to highlight the importance of

Oman Air is introducing three new summer routes

There are three new routes being introduced during the summer schedule: a four-weekly service from Muscat to Nairobi, Kenya; a daily direct service between Salalah and Calicut in India and a daily direct service between Muscat to

Etihad Airways Engineering receives production approval from EASA

Etihad Airways Engineering has become the first organisation in the Middle East to be granted with a Part21G Production Organisation Approval (POA) by the European Aviation Safety Agency (EASA).

ATA Airlines leasing another Ukrainian MD-83

Iran's ATA Airlines has wet-leased another MD-83 from ACMI/charter operator Bravo Airways (Ukraine), ch-aviation has reported.

EBACE17 SK0103240517
See us at
Aeropodium BT2802240417EBACE17 BT0103240517Kuwait APADS BT1602270317