First half revenues reach AED 1.816bn, up 6% compared to same period last year
Air Arabia has announced strong financial results for H1-2018 as the Sharjah-based carrier continued to deliver solid and sustained financial performance.
Air Arabia reported a net profit of AED 230mn for the H1-2018, 12% less than the AED 261mn reported for the same period last year. The company’s turnover for the first six months of 2018 reached AED 1.816bn, an increase of 6% compared to AED 1.716bn in the corresponding period last year.
Marking strong growth in passenger demand, Air Arabia flew 4.2mn passengers during the first half of 2018 and the airline’s average seat load factor for the first six month of 2018 – passengers carried as a percentage of available seats – stood at an impressive 79%.
“Air Arabia’s strong financial results are a testament to the airline’s robust growth strategy, operational efficiency and unwavering commitment to delivering on its value-added proposition for customers,” noted Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia.
During the first half of 2018, Air Arabia received three brand new Airbus A320 airplanes bringing its fleet size to 53 aircraft. The carrier added a total of 12 new routes to its global network in the first half of this year. Air Arabia today operates flights to over 150 global destinations in 49 countries from four hubs in the UAE, Morocco, and Egypt.
In June, the carrier declared that the financial exposure it has with the private equity firm ‘Abraaj Capital’ is limited to the Group’s investment portfolio and that there is no significant impact on Air Arabia’s business or on its liquidity status, the press statement added.
