Air Arabia announced its financial results for the fourth quarter ended December 31, 2013, as the company once again delivered high levels of profitability and growth across the breadth of its operations.
Air Arabia’s net profit for the fourth quarter ending December 31, 2013, stood at USD 25.59 million, up 12% compared to USD 22.86 million reported in 2012. The airline’s turnover for the last quarter 2013 was USD 220.7 million, an increase of 8% compared to USD 205 million reported for the same period in 2012. The airline carried over 1.5 million passengers in fourth quarter of this year, an increase of 15% compared to last quarter of 2013.
For the full year 2013, the airline reported a net profit of USD 118.42 million, an increase of 2% compared to the same period of 2012. Turnover for the full year ending December 31, 2013, stood at USD 871.2 million, up 14% compared to the same period in 2012. More than 6.1 million passengers flew with Air Arabia in 2013, a 15% increase compared to 5.3 million passenger carried in 2012. The airline’s seat load factor– or passengers carried as a percentage of available seats – for the full year ending December 31, 2013, stood at impressive 80%.
These results were announced following a meeting of the Board of Directors of Air Arabia who have proposed a dividend distribution of 7.25% of capital, which is equivalent to 7.25 fils per share. This proposal is subject to ratification by Air Arabia shareholders at the company’s upcoming Annual General Meeting.
Air Arabia added 8 destinations to its network in 2013, including Yerevan in Armenia; Lar and Mashhad in Iran; Baghdad in Iraq; Sialkot in Pakistan; Abha, Ha’il and Hofuf in Saudi Arabia. The airline took delivery of seven new A320 aircraft from Airbus in 2013, bringing its total fleet size to 35.
Source: Air Arabia