Air Arabia reports strong first quarter net profit of AED114 million, up 34%
Air Arabia PJSC today reported strong financial results for the very first quarter of 2016 exceeding expert expectations as the Middle East's first and biggest low cost provider continued to provide impressive efficiency and bring in brand-new customers.
Air Arabia reported a net revenue of AED114 million for the 3 months ending March 31, 2016, 34 percent higher than the corresponding 2015 figure of AED85 million. In the exact same duration, the airline posted a turnover of AED946 million, an increase of 7 percent on AED886 million in the very first quarter of in 2014.
The airline flew more than 2.1 million passengers between January and March 2016, up 17 percent on the corresponding duration of in 2014. The airline company's average seat load element-- or travelers brought as a portion of offered seats-- during the very first 3 months of 2016 stood at an impressive 81 per cent.
Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, stated: "Air Arabia has actually made an outstanding start to 2016, preserving the momentum we developed in 2014 and attracting brand-new customers to our brand name. Our functional efficiency allied to the success of our path growth strategy and the popularity of our value-add service proposition, leaves Air Arabia well placed to browse the present macroeconomic obstacles and gain from the many opportunities in the regions aviation sector." Air Arabia added 2 new paths from its primary center in Sharjah in the first 3 months of 2016, both of which reinforced its presence at the intersection of Europe and Asia. In March, it started direct flights between Sharjah and Sarajevo, the capital city of Bosnia and Herzegovina, bringing this popular and historical city within simple reach of UAE visitors. This was followed by news that Air Arabia will operate seasonal direct air travels from Sharjah to Batumi, Georgia, in between July and September to accommodate summer tourist need. In addition, Air Arabia added 3 new paths in the very first quarter of this year from its operating hubs in Morocco and Jordan.
