Air Arabia records 34% rise in net profit

Air Arabia has announced that they have exceeded analyst expectations and their turnover has increased by 7 per cent to AED 946 million with an increase of 17 per cent in passenger numbers to 2.1 million as well. The airline reported a net profit of AED114 million for the three months ending March 31, 2016, a 34 percent higher than the corresponding 2015 figure of AED85 million. In the same period, Air Arabia posted a turnover of AED946 million, an increase of 7 percent on AED886 million in the first quarter of last year.
The airline flew more than 2.1 million passengers between January and March 2016, up 17 percent on the corresponding period of last year. The airline’s average seat load factor – or passengers carried as a percentage of available seats – during the first three months of 2016 stood at an impressive 81 per cent.