Air Arabia’s profits dip for 2015

Air Arabia profits witness a dip
Air Arabia profits witness a dip

Air Arabia recently announced its financial results for the first nine months ending 30 September 2015.

The recorded net profit of AED472 million for first nine months of 2015, resulting in five per cent lower than last year. The airline turnover reached AED2.87 billion for nine months ending 30 September 2015, an increase of two percent on 2014 figure. Passenger numbers increased by 11% year-on-year in first nine months of 2015 reaching 5.7 million passengers. The average seat load factor – or passengers carried as a percentage of available seats – for the period stood at 79%.

Sheikh Abdullah Bin Mohammed Al Thani, chairman of Air Arabia said: “Despite increased pressure on yield margins, spare capacity in the market and protracted political uncertainty within the region, the airline continues to deliver strong profits and solid business growth.”

Revenues for three months ending 30 September 2015, increased by six percent to stand at AED1.1 bn, compared with AED one bn for 2014. Net profit in the third quarter of 2015 reached AED235 m, six percent lower than 2014 figure of AED251 m. More than two million passengers were served in the third quarter of 2015, an 18% increase on 2014, while the average seat load factor was 80%.

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