Search DubaiPRNetwork.com

Home >> Travel & Tourism

Air Arabia reports strong first quarter 2018 net profit of AED110 million, up 8%

Thursday, May 10, 2018/ Editor -  

Share

Home >> Travel & Tourism

Sharjah, United Arab Emirates,  May 10, 2018:  Air Arabia PJSC today reported strong financial results for the first quarter of 2018 as the Middle East’s first and largest low cost carrier continued to deliver solid commercial and operational results.  

Air Arabia reported a net profit of AED110 million for the three months ending March 31, 2018, an 8 percent increase compared to the corresponding 2017 figure of AED102 million. In the same period, the airline posted a turnover of AED877 million, an 8 percent increase compared to the first quarter of last year.

More than 2 million passengers flew with Air Arabia between January and March 2018, in line with the record number of passengers carried in the first quarter of last year.

The airline’s average seat load factor – or passengers carried as a percentage of available seats – during the first three months of 2018 stood at an impressive 80 per cent.

Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, said: “We are glad to see Air Arabia’s record 2017 financial results continue with the solid earnings registered in the first quarter 2018.

The strong financial performance for the first quarter is a reflection of the robust business model that we operate and is driven by our clear strategy for growth.

 The strong passenger demand combined with the solid cost control measures that we took in driving cost margins lower continue to positively impact the financial performance of the carrier.”

He added: “As we continue to witness strong customer appeal for our services, we remain committed to investing in innovative and value added products that will provide our customers with unmatchable value while traveling by air.

 We remain optimistic about the prospects of low cost air travel in the wider region and our ability to continue to report sustained profitability and achieve solid growth margins across our network”.  


Air Arabia added three new routes from its hubs in the UAE and Egypt in the first three months of 2018, with flights commencing from Sharjah to Moscow Sheremetyevo in Russia and to Jeddah and Kuwait from Sohag in Egypt.

This was followed by the announcement of new flights from Sharjah to Qabala in Azerbaijan; Izmir and Bodrum in Turkey staring June 2018 and to Grozny in Russia starting April 2018.

The carrier has also received the ‘Corporate Editor Choice Award’ at the 2018 Air Transport Awards demonstrating Air Arabia’s continued commitment to passenger satisfaction and development within the industry.

 


Previous in Travel & Tourism

Next in Travel & Tourism


Home >> Travel & Tourism Section

Latest Press Release

The Sustainable City's Brand Ambassador Dolores Al Shelleh sets history as firs ...

Huawei and Dragon INFO partner to deliver AI-driven Video Cloud Policing Big Dat ...

Riverland™ Dubai transforms into the largest trick-or-treat destination for Hall ...

UAE to open Intercontinental Cup campaign against Egypt

BurJuman Arjaan by Rotana, Jumeira Rotana and Villa Rotana Organized a Blood Don ...

Airport Show 2019 powered by 375 exhibitors from 60 countries

Pre-ordering for new iPhone XR now open on SOUQ.com

Aston Martin Lagonda's Sixth Global Region – Middle East, North Africa & Turkey ...

Julphar Inks Deal with Silicon Valley Tech Startup inui Health

Siemens in landmark MoU to repower Iraq, support economic prosperity

Malabar Gold & Diamonds partners with NBF for the second NBF Fujairah Run

Roger Dubuis opens a new boutique in Monaco

ICAGE-15 advancing laparoscopic supra-cervical hysterectomy skills of the UAE-b ...

Metito Showcases Pioneering Water Technologies at WETEX Dubai

8 Jours Grande Taille a modern take on a classic timepiece

Golden Bridge Titane Dlc: The Clash Of The Titans

FERG organizes football tournament for 16 exchange houses in the UAE

Etisalat surprises visitors with revolutionary technologies and innovations at G ...

Dubai Customs to participate in ‘A Week Without Service Centers' initiative

DP World, UAE Region Wins Terminal Operator of the Year at Maritime Standards Aw ...