Air Arabia is celebrating strong full-year financial results for 2015 as the Middle East and North Africa’s largest low-cost carrier delivered growth and profitability.
While the carrier’s net profit for the full year ending December 31, 2015 was AED 531 million, 6% lower than 2014 figure of AED 566 million, turnover saw an increase of 3% on the preceding 12 months as the airline continued to expand its customer base.
More than 7.6 million passengers flew with Air Arabia in 2015, a 12% year-on-year increase.
“2015 was a year of growth and achievement for Air Arabia as our expansion strategy, efficient operations and tight cost controls reinforced our market leading position,” said Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia.
“The impact of low oil prices continues to have its effect on the wider global economy, while pressure on yields and geo-political uncertainty continued to weigh on the aviation industry. Despite these challenges, Air Arabia once again delivered a strong set of numbers and remains well positioned for further growth in 2016.”
Air Arabia added 23 routes to its network in 2015, becoming the first low-cost airline from the Middle East and Africa to enter the Chinese market with the launch of regular non-stop services to Urumqi, the largest city in Western China.
The airline also added a fifth international hub with the formation of Air Arabia Jordan and the opening of a fixed-based operation at Amman Queen Alia International Airport.