Air Arabia PJSC 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.
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.
Source: Air Arabia