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

Emirates and Qantas to renew their vows

Emirates and Qantas are hoping to continue their special relationship and have applied to the the Australian Competition and Consumer Commission (ACCC) to renew their alliance.

EAG launches second Fikra University project

Etihad Aviation Group (EAG) has launched its Fikra University project for 2017. Fikra University is a competition which aims to foster entrepreneurship and innovation with students across the UAE.

Inzpire delivers cyber, UAS and ISR training to Royal Jordanian Air Force's new ISR wing

Inzpire's training experts have recently delivered tailored Cyber, Intelligence, Unmanned Air Systems (UAS) and Intelligence, Surveillance and Reconnaissance (ISR) training courses to a cohort of Royal Jordanian Air Force (RJAF)

AJW Group announces Tom De Geytere as chief sales officer

AJW Group has announced the promotion of Tom De Geytere to Chief Sales Officer to support its fast-growing business.

Flitetec launching new products at Dubai Airshow

UK-based aircraft interiors company, Flitetec, is set for the global launch of new products when it attends its first Dubai Airshow next month (12 to 16 November).

Rolls-Royce Trent 7000 powers Airbus A330neo first flight test

The Rolls-Royce Trent 7000, the latest member of the Trent family of engines, has successfully powered the new Airbus A330neo into the skies for its first test flight today.

TAA SK 12MTHS16
See us at
Aviation Africa BT18418Aviation Show 267291117DAS BT1105161117AIMA Africa 2017DASAS BT3006161117Global Aerospace BT28218DIAC BT1105121117AIME BT1204240118