Air Arabia witnesses 31% increase for Q2

Air Arabia announced its financial results for the three months ending June 30^th, 2012. For the three months ending June 30, 2012, Air Arabia reported a net profit of AED66 million, an increase of 31% compared to AED51 million in the corresponding period in 2011. The carrier’s turnover for the second quarter of 2012 stood at AED729 million, an increase of 23% compared to AED592 million reported in the same period of 2011.

The airline welcomed onboard 1.3 million passengers in the second quarter of 2012, an increase of 15% compared to the same period last year. Air Arabia’s average seat load factor – or passengers carried as a percentage of available seats – for the three months ending June 30, 2012, stood at 85%, up 3% on the same period last year.

Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia said: “In the second quarter of this year, our proven ability to identify and capitalise on underserved served routes continued to reap enormous benefits.”

For the six months ending June 30, 2012, Air Arabia reported a net profit of AED115 million, an increase of 22% compared to AED94 million in the corresponding period in 2011.

The carrier’s turnover for the first half of 2012 stood at AED1.3 billion, an increase of 22% compared to AED1.1 billion reported in the same period of 2011. The airline welcomed onboard 2.5 million passengers in the first half of 2012, an increase of 11% compared to the same period last year.

“Looking ahead, we are confident about the outlook of low cost travel in the region, as we continue expanding into new markets and adding new services,” concluded Sheikh Abdullah Bin Mohammad Al Thani.

By Charmaine Fernz, 7 August 2012, Tuesday 1:05 PM