Air Arabia soars in Q3 to beat the expectations
Nov 09, 2017

Air Arabia soars in Q3 to beat the expectations

Air Arabia announced strong financial results for the third quarter of this year ending September 30, 2017 as the carrier continued to deliver solid and sustained operational and financial performance.

Air Arabia’s financial results for the third quarter ending September 30, 2017 exceeded analysts’ expectations and registered a net profit of AED 376 million, an increase of 27 per cent compared to the AED 297 million reported for the same period last year. The company’s turnover for the third quarter of 2017 increased by 4 per cent to AED 1.16 billion, compared to AED 1.12 billion in the corresponding period last year. Air Arabia served over 2.33 million passengers in the third quarter of 2017, an increase of 3% compared to the same period of last year while the average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an impressive 81 per cent.

Air Arabia’s net profit for the first nine months of 2017 stood at an impressive AED 637 million, up 18 per cent compared to the corresponding period of 2016 while the turnover for the first nine months of this year reached AED 2.88 billion. Air Arabia served over 6.5 million passengers in the first nine months of 2017 while the average seat load factor – or passengers carried as a percentage of available seats for the same period stood at an impressive 80 per cent.