Air Arabia reported a profitable year for 2014.
The airline reported a net profit for the full year ending 31 December 2014 of AED 566 million, up 30% compared to AED 435 m for the same period last year. The airline’s turnover for the full year 2014 reached AED3.7 bn, an increase of 17% on 2013, driven by increased passenger numbers.
The number of passengers carried was over 6.8 m passengers in 2014 which is a 12% increase over last year. The average seat load factor for the same period was 81%.
Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia said: “Our program of expansion into new markets combined with improved operational efficiencies has led to another year of sustained growth and profitability for the airline. The year 2015 continue to witness political uncertainty in some parts of the region and with current fluctuating fuel prices, pressure on the global economies is increasing. Despite regional and global economical and geo-political challenges, we remain highly confident about the long-term prospects for our business.”
The airline’s net profit for the fourth quarter, stood at AED 68 m, a drop of 28% compared to AED 94 m for the same period last year. The airline’s turnover for the last quarter of 2014 was AED 924 m, an increase of 14% compared to AED 811 m reported for the same period in 2013. Passenger traffic for the fourth quarter 2014 reached 1.7 m, an increase of eight percent compared to the same quarter of last year.