Financial Round Up
Air Arabia posts 128% profit increase in 2Q
August 19th 2014
Sharjah-based LCC Air Arabia has posted a second-quarter net profit of AED173 million (US$47 million), more than double its year-ago profit of AED76 million. Read More »
Passenger numbers were up 8% to 1.6 million and load factor was a strong 84%.
Air Arabia’s best results yet are largely due to “a dynamic fuel management policy” and close focus on cost management, said chairman Sheikh Abdullah Bin Mohammad Al Thani.
“We have seen an 11 per cent increase in capacity in the first half of this year, yet we have sustained a high average seat factor and seen first half turnover increase by 15 per cent. The average yield for the first half 2014 has also increased by six per cent, a record that is not only among the highest in the industry but that also reflects the true low cost management practices that Air Arabia follows,” Al Thani added.
