Air Arabia announced its financial results for the nine months ending September 30, 2018, demonstrating high levels of profitability and solid operational metrics.
During the first nine months of 2018, Air Arabia registered a turnover of 3 billion, 8 per cent increase compared to AED 2.8 billion registered during the same period last year. Net profit for the first nine months of this year stood at 530 million, 17 per cent lower than the net profits recorded for the corresponding period in 2017. Air Arabia’s robust financial performance was recorded despite the strong impact of high oil price and currency devaluation on the industry’s bottom line.
More than 6.6 million passenger flew with the low-cost pioneer during the nine months of 2018 while 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.
Revenue for the third quarter ending September 30, 2018, stood at AED 1.28 billion, a 10 percent increase compared with AED 1.16 billion in the same period of 2017. Net profit in the third quarter of 2018 reached AED 300 million, 20 per cent lower than the corresponding 2017 figure. More than 2.4 million passengers were served in the third quarter of 2018, a 5 per cent increase on the corresponding period of 2017, while the average seat load factor stood at an impressive 81 per cent.
Source: Air Arabia