Air Arabia, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, announced its financial results for the third quarter ending September 30, 2016.
Air Arabia’s net profit for the third quarter of 2016 was AED 297 million, up 26 per cent compared to AED 235 million reported in the corresponding period of 2015. For the three months ending September 30, 2016, the airline posted a turnover of AED 1.12 billion, in line with the revenue generated in the same period of 2015. Air Arabia served over 2.27 million passengers in the third quarter of 2016, a 14 per cent increase compared to 2 million passengers in the same period of last year. The average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an impressive 81 per cent.
Air Arabia’s net profit for the first nine months of 2016 stood at AED 542 million, up 15 per cent compared to AED 472 million reported in the corresponding period of 2015. For the nine months ending September 30, 2016, the airline posted a turnover of AED 2.96 billion, an increase of 3 per cent compared to AED 2.86 billion in the same period of 2015. The low-cost aviation pioneer served over 6.3 million passengers in the first nine month of 2016, a 14 per cent year-on-year increase. The average seat load factor – or passengers carried as a percentage of available seats – for the same period stood at an impressive 80 per cent.
Air Arabia completed 13 years last month, maintaining its continuous record of profitability since its first year of operations. The carrier added five new routes to its global network during the first nine months of 2016 from its operating hubs in the UAE, Morocco and Jordan.
