Air Arabia records record net profit in Q2 2019

Darren Wood
By Darren Wood August 12, 2019 09:42

Air Arabia records record net profit in Q2 2019

Air Arabia registered a record net profit of AED 210 million (approximately $56 million) during its second quarter 2019 financial results.

The period, ending June 30, saw its net profit increase by 75% compared to the AED 120 million reported for the same period last year.

The company’s turnover for the second quarter of 2019 increased by 22% to AED 1.144 billion, compared to AED 938 million in the corresponding period last year.

The airline has said that the strong second-quarter financial results were backed by solid growth in passenger demand with Air Arabia serving over 3 million passengers from its four hubs in the UAE, Morocco and Egypt. This is an increase of 16% compared to 2.59 million passengers carried in the same quarter last year.

The average seat load factor stood at 84%.

During the first half of 2019, Air Arabia received its first brand new Airbus A321 neo LR airplane bringing its total fleet size to 54 aircraft. The new Airbus A321, which accommodates 215 passengers, is the first of five aircraft to be delivered in 2019 that will help the carrier expand to new medium-haul markets in addition to strengthening the existing routes with increased seat capacity.

The carrier added a total of 10 new routes to its global network in the first half of this year. Flights from Air Arabia’s hub in Morocco commenced from Casablanca to Lisbon, Pisa, Prague and Tunis while new flights started between Tangier and Lyon; Fez and Rome.

The carrier also expanded its operation from its Egypt hub with new flights connecting Sharm El Sheikh to Milan Bergamo, Amman and Luxor; as well as Sohag to Riyadh. Air Arabia also announced the launch of four new destinations from its main hub in Sharjah to Kuala Lumpur, Tunis, Vienna and Bishkek with flights commencing in third quarter of this year.

Air Arabia operates flights to over 170 global destinations in 50 countries from four hubs in the UAE, Morocco, and Egypt.

Darren Wood
By Darren Wood August 12, 2019 09:42