Financial Round Up
Air Arabia’s profit down 6%
November 27th 2015
Air Arabia has reported a third quarter net profit of 235 million dirham ($64 million), down 6% year-on-year, as revenues increased from 1.06 billion to 1.1 billion dirham. Read More » Passenger numbers grew 18% compared with third-quarter 2014. Load factor was unchanged at 80%.
In a year-to-date perspective, the Sharjah-based budget carrier’s profit for the first nine months combined dropped 5% to 472 million dirham. “Despite increased pressure on yield margins, spare capacity in the market and protracted political uncertainty within the region, Air Arabia continues to deliver strong profits and solid business growth while serving ever-increasing numbers of passengers,” said Air Arabia chief, Sheikh Abdullah Bin Mohammed Al Thani.
“The company continued is continuing its expansion throughout 2015. We have launched 21 routes this year. We remain focused on expanding operations and entering new markets while consolidating our leading position in existing markets, as well as delivering an innovative and appealing product offering to our customers,” he said.
