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<\/p>\nAir Arabia (PJSC) today announced strong financial results for the second quarter of this year ending June 30, 2017 as the Middle East and North Africa\u2019s first and largest low-cost carrier continued to deliver robust and sustained performance.<\/p>\n
Air Arabia\u2019s financial results for the second quarter exceeded analysts\u2019 expectations and registered a net profit of AED 158 million, an increase of 21 per cent compared to the AED 131 million reported for the same period last year. The company\u2019s turnover for the second quarter of 2017 increased to AED 906 million, compared to AED 894 million in the corresponding period last year. Air Arabia served over 2.05 million passengers in the second quarter of 2017, while the average seat load factor \u2013 or passengers carried as a percentage of available seats \u2013 for the same quarter stood at an impressive 79 per cent.<\/p>\n
<\/p>\n
Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia said: \u201cAir Arabia\u2019s strong second quarter financial performance is a testament to the carrier\u2019s operational efficiency and robust growth strategy. Despite the continuous pressure on yield margins, which is driven by the market and the economic environment, Air Arabia managed to register a solid second quarter net profit backed by the carrier\u2019s cost control measures, operational efficiency and combined with its momentum growth\u201d.<\/p>\n
Air Arabia\u2019s net profit for the first six months of 2017 stood at AED 261 million, up 7 per cent compared to the corresponding period of 2016 while the turnover for the first six months of this year reached AED 1.716 billion. The low-cost aviation pioneer served over 4.1 million passengers in the first six months of 2017 while the average seat load factor \u2013 or passengers carried as a percentage of available seats \u2013 for the same period stood at an impressive 79 per cent.<\/p>\n
\u201cThe first half of this year have seen Air Arabia continue its robust growth by launching new routes and increasing capacity across its operating hubs while remaining focused on driving operating cost margins lower by the day\u201d Al Thani continued.<\/p>\n
Air Arabia received two new Airbus A320 aircraft in the first half of 2017 ending June 30 and added 12 new routes from its five operating hubs in the UAE, Morocco, Egypt and Jordan. Air Arabia currently serves a global destination network of 130 routes across the world.<\/p>\n
He concluded: \u201cWe are confident about the appeal of low cost travel in general and Air Arabia services in particular across the markets we operate in.\u00a0 As we continue to further expand our reach and network, we remain focused on operational efficiency, cost control as well as delivering even more value for money air travel to our customers\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
Results exceeded analyst’ expectations and second quarter revenues reached AED 906 million Air Arabia (PJSC) today announced strong financial results for the second quarter of this year ending June 30, 2017 as the Middle East and North Africa\u2019s first and largest low-cost carrier continued to deliver robust and sustained performance. Air Arabia\u2019s financial results for […]<\/p>\n","protected":false},"author":1,"featured_media":18,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/17","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/comments?post=17"}],"version-history":[{"count":1,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/17\/revisions"}],"predecessor-version":[{"id":19,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/17\/revisions\/19"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media\/18"}],"wp:attachment":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media?parent=17"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/categories?post=17"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/tags?post=17"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}