Air Arabia’s financials on an upward graph

Air Arabia posts profits
Air Arabia posts profits

The year so far has been panning out very successful for Air Arabia. The airline recently announced its financial results for the first nine months of the year ending 30 September 2014.

As per the results, the net profit was reported to be AED498 million, which was a 46% increase compared to AED341 m in 2013 for the same period. The turnover for the nine months was AED 2.8 billion, an increase of 17% compared to AED 2.4 bn for 2013. The number of passengers carried during the nine months accounted for over 5.1 m which is a 13% year-on-year increase while average seat load factor was 82%.

Sheikh Abdullah Bin Mohammed Al Thani, chairman of Air Arabia said: “We are clear that our objective is to expand both our operational footprint and route while at the same time seize new commercial opportunities.”

The airline’s net profit for Q3 of 2014 was AED 251 m, up 22% compared to AED 206 m for 2013. The turnover for the same period was over AED 1.06 bn, an increase of 25% compared to AED 854 m in for 2013. The airline carried over 1.75 million passengers resulting in a 15% increase compared to 1.52 m passengers of last year. The average seat load factor was 80%.

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