Air Arabia’s second-quarter net profit shows 21 per cent y-o-y increase

Air Arabia’s financial results for the second quarter of 2017, ending on June 30, exceeded analysts’ expectations as it declared a net profit of AED 158 million, an increase of 21 per cent over the AED 131 million reported for the same period last year. Further, Air Arabia’s net profit for the first six months of 2017 stood at AED 261 million, up by 7 per cent from the net profit of the corresponding period of 2016. The turnover for the first six months of this year reached AED 1.716 billion, out of which, the turnover for the second quarter alone registered AED 906 million.

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”.