Low-cost carrier Air Arabia has recorded a Dhs297 million net profit for the third quarter of 2016 – up 26 per cent compared to Dhs235 million reported in the corresponding period of 2015.
For the three months ending September 30, 2016, the airline carried 2.27 million passengers, a 14 per cent increase compared to Q3 2015.
The airline served over 2.27 million passengers in the third quarter of 2016, a 14 per cent increase compared to 2 million passengers in the same period of last year.
Sheikh Abdullah Bin Mohammed Al Thani, Chairman of Air Arabia said: “The strong third quarter and year to date performance is a reflection of Air Arabia’s commercial and operational strengths supported by the company’s commitment to deliver high value air travel to its customers and return on investments to its shareholders.”
He added: “Despite challenging trading conditions driven by excess capacity in the market, political instability in some markets and the effect of lower oil price in the regional economies, we remain confident about the long-term prospects for the low cost industry in region and our ability to continue with our growth plans while delivering our value-for-money promise to our customer’s everyday”.
The low-cost airline served over 6.3 million passengers in the first nine month of 2016, a 14 per cent year-on-year increase.
Air Arabia completed 13 years last month, maintaining its continuous record of profitability since its first year of operations.
The carrier added five new routes to its global network during the first nine months of 2016 from its operating hubs in the UAE, Morocco and Jordan.
Source:7days
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