Air Arabia reports strong H1 results

Air Arabia

Air Arabia recently announced that it achieved strong financial results during H1 of 2016 (ending June 30).

The Sharjah-based carrier reported a net profit of $66.7 million for the first half of the year, a jump of 3.5 per cent compared to the $64.5 million reported for the corresponding period in 2015. The company’s turnover for the first six months of 2016 reached $500.95 billion, compared to $476.45 billion in the corresponding period last year – a 5.5 per cent rise.

Celebrating a healthy growth in passenger demand, Air Arabia flew 4.1 million passengers in H1 2016 – up 14 per cent on the corresponding period last year, while the carrier’s average seat load factor for the first six months of 2016 stood at an impressive 79 per cent.

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Chairman, Air Arabia, Sheikh Abdullah Bin Mohamed Al Thani enthused on the results: “Air Arabia’s strong financial results are a testament to the airline’s unwavering commitment to delivering on its value-added proposition for customers combined with its operational efficiency and the effectiveness of its wider growth strategy. Despite the continuous pressure on yield margins that airlines are witnessing and the challenges associated with the regional economic outlook, Air Arabia continues to deliver solid financial performance and momentum growth”.

Bin Mohamed Al Thani added: “We remain optimistic about the outlook of low-cost travel in the wider region as we continue to focus on further expanding our network and operational efficiency as well as leveraging on emerging travel trends by delivering even more value to our customers.”

Zooming in on Q2 of 2016 results, Air Arabia flew more than two million passengers during this period, ending June 30, an increase of 12 per cent compared to the same period of 2015. The airline’s average seat load factor for the same period stood at a high 78 per cent.

As for the company’s turnover in Q2 of this year, it reached $243.4 million, a jump of four per cent compared to the same period in 2015.

With regards to the airline’s fleet, Air Arabia received three brand new aircraft, while new flights to Sarajevo in Bosnia and Herzegovina were introduced from its Sharjah hub.

Also during H1, Air Arabia Jordan launched a new route from Amman to Riyadh, while Air Arabia Maroc launched two new routes connecting Marrakech to Pau and Fez to Toulouse.