Subscribe Free
in Air Transport / Business & Finance

Air Arabia's billion dirham profit surge for 2019

Posted 12 February 2020 · Add Comment

Air Arabia is celebrating passing the billion dirham (£ 270m) net profit mark for 2019.

The Sharjah-based low cost carrier posted an 80% profit surge thanks to higher passenger numbers from its four hubs in the UAE, Morocco and Egypt.
Speaking at the HFW Middle East legal conference in Dubai last week, Air Arabia CEO Adel Ali told delegates that introduction of the A321 to the fleet enabled the carrier to meet growing demand and increase its average seat load factor.
Ali said there were growing numbers of business users taking advantage of the Air Arabia lower prices and improved frequencies. Utilisation of the Air Arabia aircraft are among the best in the world, he said.
At Sunday’s result presentation, Air Arabia chairman Sheikh Abdullah Bin Mohammad Al Thani, said full year turnover rose by 15 per cent to Dh4.75 billion and 16 new routes were added to the airline group network. The growth in passenger demand saw Air Arabia serve more than 12 million passengers from its four hubs in the UAE, Morocco and Egypt, up 10 per cent compared to the 11 million passengers carried last year.
The airline will soon be operating from a third hub in the UAE following a joint venture with Etihad which will see the LCC begin operations from Abu Dhabi.
Air Arabia benefited from lower fuel costs and in the fourth quarter of 2019 it reported a net profit of Dh199 million and carried 2.9 million passengers - an increase of 8 per cent compared to the same quarter last year.
The average seat load factor – or passengers carried as a percentage of available seats – for the full year increased 2 per cent at 83 per cent, the airline said.
“Going forward, we remain focused on driving operational efficiency across board, exploring opportunities and ventures that will best serve the airline’s ambitious growth plans while delivering optimum value to our customers and shareholders,” Al Thani said.

Air Arabia CEO Adel Ali speaking at last week's HFW Middle East Legal conference in Dubai

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Middle East and Africa Airlines revenue losses mount

The International Air Transport Association strengthened its call for urgent action from governments in Africa and the Middle East to provide financial relief to airlines as the latest IATA scenario for potential revenue loss by

Air France KLM group wins Sustainability Award at Dubai Airports Excellence Awards

Air France KLM group was the winner of the Sustainability award for 2018 at the third annual Dubai Airports Excellence Awards held at Soho Beach Meydan, on 22 April 2019.

MBRSC releases GIF image showing decline of NO2 in the GCC

Mohammed Bin Rashid Space Centre (MBRSC) has released a GIF image of the decrease in nitrogen dioxide (NO2) concentration in the GCC countries, between 26 November 2019 until 27 March 2020.

Emirates to be bailed out by the Dubai Government

The Dubai Government is set to bail out Emirates Airline after its financial impact of the Covid19 pandemic.

OneWeb files for Chapter 11 restructuring to execute sale process

OneWeb, a communications company, announced today that the company and certain of its controlled affiliates have voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern

Pillar Hawk

Locally-assembled BAE Hawks have become the first new Saudi-built fast jet aircraft to fly in home skies, marking a significant step forward for the kingdom’s aerospace industry. Jon Lake reports.

Airport Security SK2702240620
See us at
Arabian Trav Mark BT1603010720MAPS2020 BT1102171120SaudiAirshow21BT2011180221AVMENA20 BT1309100620