Air Arabia announced its financial results for the three months ending March 31, 2013, demonstrating the airline's strong financial position and outstanding performance.
Air Arabia reported a net profit of USD 16 million for the three months ending March 31, 2013, exceeding analysts' forecast and registering an increase of 20% compared to USD 13.3 million in the corresponding quarter in 2012. The airline attributes the impressive growth to its appealing product offering and strong operational performance.
In the first quarter of this year, Air Arabia posted a turnover of USD 196.5 million, an increase of 22% compared to USD 161.7 million in the same period of 2012.
Between January 1, 2013 and March 31, 2013, Air Arabia launched non-stop services from its primary hub in Sharjah to four new destinations. In addition, Air Arabia increased frequency of flights from Sharjah to Beirut in Lebanon, Salalah in Oman, and Dhaka in Bangladesh.
In April, Air Arabia reported that it carried a record 1.4 million passengers in first quarter of this year, the highest number of passengers that the airline handled in a quarter since inception in 2003. The passenger number represents 18% growth compared to the same period last year. The average seat load factor - or passengers carried as a percentage of available seats - stood at an impressive 82%.
The first quarter of this year saw Air Arabia taking delivery of two aircraft from Airbus. The airline will receive four more A320 aircraft this year, which is in line with Air Arabia's growth plan to further expand its geographic network and significantly grow the size of its fleet by 2016.
Source: Air Arabia