GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Travel and Tourism

 
  Share
  • Results exceeded analysts' expectations and second quarter revenues reached AED 906 million
  • First half 2017 net profit increases 7% and 12 new routes launched in the same period
Sharjah, UAE; 08 August 2017: Air Arabia (PJSC) today announced strong financial results for the second quarter of this year ending June 30, 2017 as the Middle East and North Africa's first and largest low-cost carrier continued to deliver robust and sustained performance.
Air Arabia's financial results for the second quarter exceeded analysts' expectations and registered a net profit of AED 158 million, an increase of 21 per cent compared to the AED 131 million reported for the same period last year. The company's turnover for the second quarter of 2017 increased to AED 906 million, compared to AED 894 million in the corresponding period last year. Air Arabia served over 2.05 million passengers in the second quarter of 2017, while the average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an impressive 79 per cent.
Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia said: “Air Arabia's strong second quarter financial performance is a testament to the carrier's operational efficiency and robust growth strategy. Despite the continuous pressure on yield margins, which is driven by the market and the economic environment, Air Arabia managed to register a solid second quarter net profit backed by the carrier's cost control measures, operational efficiency and combined with its momentum growth”.
Air Arabia's net profit for the first six months of 2017 stood at AED 261 million, up 7 per cent compared to the corresponding period of 2016 while the turnover for the first six months of this year reached AED 1.716 billion. The low-cost aviation pioneer served over 4.1 million passengers in the first six months of 2017 while the average seat load factor – or passengers carried as a percentage of available seats – for the same period stood at an impressive 79 per cent.
“The first half of this year have seen Air Arabia continue its robust growth by launching new routes and increasing capacity across its operating hubs while remaining focused on driving operating cost margins lower by the day” Al Thani continued.
Air Arabia received two new Airbus A320 aircraft in the first half of 2017 ending June 30 and added 12 new routes from its five operating hubs in the UAE, Morocco, Egypt and Jordan. Air Arabia currently serves a global destination network of 130 routes across the world.
He concluded: “We are confident about the appeal of low cost travel in general and Air Arabia services in particular across the markets we operate in. As we continue to further expand our reach and network, we remain focused on operational efficiency, cost control as well as delivering even more value for money air travel to our customers”.



Posted by : GoDubai Editorial Team
Viewed 6100 times
Posted on : Tuesday, August 8, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Abu Dhabi Airports receives UAE's first Aerodrome Flight Information Services Certification
Next Story : Airbus - The Month in Review: July 2017
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Autumn-Winter17 PUMA x TRAPSTAR Collection
New Season Haircare Must-Have: Head & Shoulders Invigorating Apple Fresh Range
Meet and Greet with Jasmine Brett Stringer Held at SUC
Louis Moinet Salutes The Spirit Of Singapore With Exclusive Limited Edition Series
SOUQ.com to Launch Half a Million Deals for White Friday 2017
Swatch Celebrates the Holidays With ISIDOR the Snowman
Christmas gift guide by HP
Give the Gift of Beautiful Hair with SHOW Beauty
Celebrating regional artistry, creativity and talent through a passion for makeu...
Roja Parfums ELYSIUM - Now available at Paris Gallery in UAE
Abu Dhabi awarded ‘Best Stand Design' at World Travel Market London
What if You Could Finish an Entire Load of Laundry in a Single Wash Cycle?
FOREO: Futuristic Gifting Ideas
Home Centre Celebrates 46th UAE National Day with Exclusive Home Décor Collection
Emirates Group announces half-year performance for 2017-18
Sushmita Sen Re-launches the Danube Home Sharjah Showroom
Alessandro International mystifies with its launch event for its Winter Collection
PLAY FOR PEACE, Spread Good Vibes this Christmas
Chattels & More returns to Downtown Design showcasing limited edition pieces in ...
Tissot Chrono XL - It's time to think big!
Runway Dubai Wrapped up an inspiring star studded event with iconic designer, Wa...
Celebrate the Special Men in Your Life with QNET
Infinix Launches Zero 5 in Dubai in Partnership with Souq.com
Dubai RAK Diabetes Center launches Dhs 1 Diabetes screening for residents
The Rado True Cyclo - Exclusive watch co-developed with French designer Philippe...
Dubai Health Authority ( DHA) and Dubai Police sign MoU to extend cooperation in...
Ulysse Nardin Marine Torpilleur Military - The Mark of A Captain
Stylish automatics from CITIZEN made for the special occasion
Malabar Gold & Diamonds launched its 195th store in Mandya, Karnataka, India
TKD Lingerie: New lingerie treats for the holidays
Six pairs of Emirati siblings marched together at Skyline's 27th Graduation Ceremony
ALWAYS TOP OF THE CHARTS: THE ICONS
SIAL Middle East to Host 22,000 Food Industry Experts
Santa Claus is coming to town on a festive Graham Chronofighter Vintage Nose Art Ltd
Fatima Bint Abdul Malik Primary School Crowned Champion of “Lughati Cup 2017”
Huawei Launches VR OpenLab Industry Cooperation Plan to Promote Construction of ...
Ourshopee Launches Online Shopping Website in Qatar
Dubai Sports Council Championship for Football Academies set for a “bigger and b...
Middle East Food Forum (MEFF) to host its 2nd edition co-located with SIAL Middl...
India's largest education technology provider BYJU'S unveils a whole new persona...
EFS Facilities Services Wins Integrated Facilities Management Contract With King...
Wataniya Airways to add 25 A320neo Family aircraft
Dubai Festival City Reveals Highlights of the Dubai Fitness Challenge Closing Ce...
LG Unveils Expanded Medical Imaging Product Lineup at Medica 2017
Chattels & More returns to Downtown Design showcasing limited edition pieces whi...
du organized Waste Management Forum in Support of the UAE's Green Economy Vision
Region's first of its kind initiative to launch in November
Dubai Customs' Smart Refund initiative to the finals of “Smart Government” program
Etisalat UAE conducts first VoLTE call over Cat-M1 IoT network in the region
H.H. Sheikh Hamdan bin Zayed Al Nahyan Tours the Barakah Nuclear Energy Plant