air arabia reports net profit of aed103 million in q1 2017
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Air Arabia reports net profit of AED103 million in Q1 2017

Egypt Today, egypt today

Egypt Today, egypt today Air Arabia reports net profit of AED103 million in Q1 2017

Air Arabia reports net profit of AED103 million in Q1 2017
Sharjah - WAM

Sharjah-based carrier Air Arabia today reported strong financial results for the first quarter of 2017 exceeding analyst expectations, as the Middle East’s first and largest low cost carrier continued to deliver solid commercial and operational results.

Air Arabia reported a net profit of AED103 million for the three months ending 31st March, 2017, a 10 percent less than the corresponding 2016 figure of AED114 million. In the same period, the airline posted a turnover of AED810 million, 14 percent less than the corresponding first quarter of last year.

The solid financial results were recorded amidst the continuous drop in the yield margins that the industry witnessed in the first quarter of this year; and were backed by Air Arabia’s strong passenger demand as well as cost control measures taken by the carrier, according to a press release from the carrier.

More than 2.1 million passengers flew with Air Arabia between January and March 2017, in line with the record number of passengers carried in the first quarter of last year, the carrier said. The airline’s average seat load factor – or passengers carried as a percentage of available seats – during the first three months of 2017 stood at an impressive 81 per cent.

Sheikh Abdullah bin Mohamed Al Thani, Chairman of Air Arabia, commented, "We are glad to see Air Arabia recording strong first quarter financial results despite the impact of lower yield margins that the industry continued to witness in the first quarter of this year. The strong measures that we took in driving cost margins lower while optimizing revenue opportunities have proven once again the resilient and dynamic business model that we operate.

"We continue to witness strong passenger demand for Air Arabia’s innovative and value added services and we remain confident of the growth prospects of the low cost travel segment in the region. We believe the market’s economic and trading conditions are on an improving trajectory, and we are optimistic that this will reflect positively on the industry’s performance for the rest of the year".

Air Arabia added one new route from its main hub in Sharjah in the first three months of 2017, with flights commencing to Baku in Azerbaijan. This was followed by the announcement of new seasonal flights from Sharjah to Trabzon, Turkey starting June 2017. In addition, Air Arabia added one new route in the first quarter of this year from its operating hub in Morocco between Casablanca and Catania in Italy.

The carrier took delivery of 1 new aircraft in the first quarter of this year and currently operating a fleet of 47 Airbus A320 aircraft operating to 126 routes across the Middle East, Africa, Asia and Europe.

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

air arabia reports net profit of aed103 million in q1 2017 air arabia reports net profit of aed103 million in q1 2017



GMT 07:22 2017 Monday ,20 November

Honda recalls 800,000 minivans over faulty seats

GMT 07:15 2017 Thursday ,30 November

Colombian President invites UAE companies

GMT 13:44 2013 Wednesday ,07 August

Chinese game developers bet on smartphone games

GMT 10:30 2011 Tuesday ,23 August

The Arab-Spanish investment forum 2011

GMT 10:49 2017 Monday ,06 November

Britain frozen out as EU finance chiefs plot future

GMT 14:30 2017 Wednesday ,06 December

India scent Test victory as pollution makes bowlers vomit

GMT 12:32 2018 Tuesday ,16 October

Runaway former sex offender nabbed in Thailand

GMT 16:34 2017 Wednesday ,01 March

Afghan capital attack toll jumps to 16

GMT 20:32 2013 Monday ,17 June

Porsche finds a new target audience

GMT 10:13 2011 Sunday ,31 July

Distressed debt firm eyes Nakheel creditors

GMT 18:25 2016 Thursday ,08 September

Ex-Lankan president’s ‘vanity airline’ grounded

GMT 21:02 2018 Wednesday ,05 September

Magnitude 5.5 earthquake strikes Russia’s Urals region

GMT 18:54 2014 Tuesday ,14 January

Cobalt nanoparticles applied in designing biosensor

GMT 12:00 2013 Wednesday ,31 July

Saudi consumers given teeth whitening kit warning

GMT 14:26 2014 Wednesday ,12 February

Earthquake behind shroud of Turin image

GMT 08:58 2014 Wednesday ,15 January

\'Lone Survivor\' blows away North American box office

GMT 15:32 2015 Sunday ,27 September

Thousands march to remember Mexico's missing students

GMT 01:25 2017 Thursday ,05 January

Strong Earthquake Strikes Off Coast of Fiji

GMT 12:51 2011 Friday ,08 July

No plans to merge Gazprom and Naftogaz
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday