air arabia reports net profit of aed103 million in q1 2017
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Air Arabia reports net profit of AED103 million in Q1 2017

Arab Today, arab today

Arab Today, arab today Air Arabia reports net profit of AED103 million in Q1 2017

Air Arabia reports net profit of AED103 million in Q1 2017
Sharjah - WAM

Sharjah-based carrier Air Arabia today reported strong financial results for the first quarter of 2017 exceeding analyst expectations, as the Middle East’s first and largest low cost carrier continued to deliver solid commercial and operational results.

Air Arabia reported a net profit of AED103 million for the three months ending 31st March, 2017, a 10 percent less than the corresponding 2016 figure of AED114 million. In the same period, the airline posted a turnover of AED810 million, 14 percent less than the corresponding first quarter of last year.

The solid financial results were recorded amidst the continuous drop in the yield margins that the industry witnessed in the first quarter of this year; and were backed by Air Arabia’s strong passenger demand as well as cost control measures taken by the carrier, according to a press release from the carrier.

More than 2.1 million passengers flew with Air Arabia between January and March 2017, in line with the record number of passengers carried in the first quarter of last year, the carrier said. The airline’s average seat load factor – or passengers carried as a percentage of available seats – during the first three months of 2017 stood at an impressive 81 per cent.

Sheikh Abdullah bin Mohamed Al Thani, Chairman of Air Arabia, commented, "We are glad to see Air Arabia recording strong first quarter financial results despite the impact of lower yield margins that the industry continued to witness in the first quarter of this year. The strong measures that we took in driving cost margins lower while optimizing revenue opportunities have proven once again the resilient and dynamic business model that we operate.

"We continue to witness strong passenger demand for Air Arabia’s innovative and value added services and we remain confident of the growth prospects of the low cost travel segment in the region. We believe the market’s economic and trading conditions are on an improving trajectory, and we are optimistic that this will reflect positively on the industry’s performance for the rest of the year".

Air Arabia added one new route from its main hub in Sharjah in the first three months of 2017, with flights commencing to Baku in Azerbaijan. This was followed by the announcement of new seasonal flights from Sharjah to Trabzon, Turkey starting June 2017. In addition, Air Arabia added one new route in the first quarter of this year from its operating hub in Morocco between Casablanca and Catania in Italy.

The carrier took delivery of 1 new aircraft in the first quarter of this year and currently operating a fleet of 47 Airbus A320 aircraft operating to 126 routes across the Middle East, Africa, Asia and Europe.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

air arabia reports net profit of aed103 million in q1 2017 air arabia reports net profit of aed103 million in q1 2017

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

air arabia reports net profit of aed103 million in q1 2017 air arabia reports net profit of aed103 million in q1 2017

 



GMT 05:39 2016 Sunday ,24 April

Leading goal scorers of French Ligue 1

GMT 07:08 2017 Wednesday ,26 April

Khalid bin Hamad to patronise MMA championship

GMT 04:05 2017 Tuesday ,07 November

SoftBank H1 net profit down on one-off factor

GMT 13:07 2018 Wednesday ,17 January

Shehbaz Sharif visit OLMT project without protocol

GMT 08:30 2018 Friday ,05 January

China ride-hailer Didi buys Brazil's 99

GMT 12:49 2018 Monday ,01 January

US warns Iran over ICBM nukes development

GMT 12:50 2017 Friday ,29 December

Pakistan heading on path of progress and prosperity

GMT 07:23 2017 Thursday ,28 December

CSB president receives Information Minister

GMT 17:54 2017 Sunday ,13 August

Morocco Through the Eyes of a Female Traveler

GMT 06:33 2017 Tuesday ,14 March

temperatures rise but rain may be on its way

GMT 05:05 2017 Sunday ,15 January

Idris Elba offers Valentine’s date for charity

GMT 13:23 2017 Sunday ,05 February

Egypt’s minister of investment reveals plan

GMT 20:15 2014 Monday ,10 November

Oil dips as Kuwait downplays OPEC output cut
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday