Air Arabia (PJSC) announced strong financial results for H1 2016, ending June 30, as the “MENA’s first and largest low-cost carrier continued to deliver robust, sustained performance.”
Air Arabia reported a net profit of AED245 million for the first half, ending June 30, an increase of 3.5 percent compared to the AED237 million reported for the same period last year. The company’s turnover for the first six months reached AED1.84 billion, compared to AED1.75 billion in the corresponding period last year, an increase of 5.5 percent.
Marking robust growth in passenger demand, Air Arabia flew 4.1 million passengers during H1, 2016 — up 14 percent on the corresponding period last year. The airline’s average seat load factor for the first six months stood at 79 percent.
Sheikh Abdullah bin Mohamed Al-Thani, chairman of Air Arabia, said: “Air Arabia’s strong financial results are a testament to the airline’s unwavering commitment to delivering on its value-added proposition for customers combined with its operational efficiency and the effectiveness of its wider growth strategy.”
He added: “Despite the continuous pressure on yield margins that airlines are witnessing and the challenges associated with the regional economic outlook, Air Arabia continues to deliver solid financial performance and momentum growth.”
Air Arabia flew over 2 million passengers in the second quarter ending June 30, 2016, a 12 percent increase compared to the same period of 2015. The airline’s average seat load factor for the same period stood at 78 percent.
The company’s turnover in the second quarter ending June 30, reached AED894 million, an increase of 4 percent compared to the same period of 2015. Net profit during the second quarter stood at AED131 million, 14 percent less than the corresponding period of 2015.
Air Arabia reported a net profit of AED245 million for the first half, ending June 30, an increase of 3.5 percent compared to the AED237 million reported for the same period last year. The company’s turnover for the first six months reached AED1.84 billion, compared to AED1.75 billion in the corresponding period last year, an increase of 5.5 percent.
Marking robust growth in passenger demand, Air Arabia flew 4.1 million passengers during H1, 2016 — up 14 percent on the corresponding period last year. The airline’s average seat load factor for the first six months stood at 79 percent.
Sheikh Abdullah bin Mohamed Al-Thani, chairman of Air Arabia, said: “Air Arabia’s strong financial results are a testament to the airline’s unwavering commitment to delivering on its value-added proposition for customers combined with its operational efficiency and the effectiveness of its wider growth strategy.”
He added: “Despite the continuous pressure on yield margins that airlines are witnessing and the challenges associated with the regional economic outlook, Air Arabia continues to deliver solid financial performance and momentum growth.”
Air Arabia flew over 2 million passengers in the second quarter ending June 30, 2016, a 12 percent increase compared to the same period of 2015. The airline’s average seat load factor for the same period stood at 78 percent.
The company’s turnover in the second quarter ending June 30, reached AED894 million, an increase of 4 percent compared to the same period of 2015. Net profit during the second quarter stood at AED131 million, 14 percent less than the corresponding period of 2015.
