Air Arabia recently revealed its financial results for the first half on 2018, ending on June 30.
The Sharjah-based carrier’s turnover for the first six months of 2018 reached $494.5 million, representing a six per cent jump on the first quarter of the previous year.
During the first six months of 2018, a total of 4.2 million passengers flew with Air Arabia, with the average seat load factor standing at 79 per cent.
Chairman, Air Arabia, Sheikh Abdullah Bin Mohamed Al Thani commented: “Air Arabia’s strong financial results are a testament to the airline’s robust growth strategy, operational efficiency and unwavering commitment to delivering on its value-added proposition for customers.”
“The global aviation industry had to cope with pressing economic challenges during the second quarter of this year and we are glad to see Air Arabia continuing to deliver strong financial and operational performance while maintaining its momentum growth across the breadth of its network,” he added.
In Q2 of 2018, Air Arabia’s turnover reached $255.4 million, marking a four per cent jump on Q2 of 2017. The airline flew more than 2.05 million passengers during this period, with its average seat load factor being an impressive 78 per cent.
Al Thani declared: “Trading conditions continue to be influenced by the regional geopolitical and economic challenges, however, the outlook of low-cost travel in the region remains very strong. We continue to focus on further expanding our reach and operational efficiency capitalising on the fundamental strength of our business model and the value driven product offering to our customers.”
During H1 of 2018, Air Arabia received three new Airbus A320 aeroplanes, boosting its fleet to 53 aircraft, while the carrier adopted 12 new routes, including Moscow Sheremetyevo and Grozny in Russia; Bodrum and Izmir in Turkey; and Qabala in Azerbaijan. The airline additionally bolstered its operations from its Egypt hub with new flights connecting Alexandria to Milan; Alexandria to Sharm El Sheikh; Sohag to Jeddah and Kuwait; and Sharm El Sheikh to Beirut and Hurghada.
Air Arabia also expanded its domestic operations from its Morocco hub with a new flight connecting Nador with Casablanca.