Air Ara­bia re­ports strong net profit of AED472 min first 9 months of 2015

Rev­enues ex­ceed AED2.87bn for 9 months end­ing Sept 30

Kuwait Times - - BUSINESS -

SHAR­JAH: Air Ara­bia (PJSC), the first and largest low-cost car­rier (LCC) in the Mid­dle East and North Africa, yes­ter­day an­nounced its financial re­sults for the first nine months end­ing Septem­ber 30 2015, as the com­pany con­tinue to achieve strong financial per­for­mance and solid growth.

The com­pany de­liv­ered a record net profit of AED472 mil­lion for the first nine months of 2015, 5 per cent lower than the cor­re­spond­ing pe­riod of last year. The air­line turnover reached AED2.87 bil­lion for the nine months end­ing Septem­ber 30, 2015, an in­crease of 2 per­cent on the cor­re­spond­ing 2014 fig­ure. Pas­sen­ger num­bers in­creased by 11 per­cent year-on-year in the first nine months of 2015 reach­ing 5.7 mil­lion pas­sen­gers. The av­er­age seat load fac­tor - or pas­sen­gers car­ried as a per­cent­age of avail­able seats - for the pe­riod stood at an im­pres­sive 79 per cent.

Sheikh Ab­dul­lah Bin Mo­hammed Al-Thani, Chair­man of Air Ara­bia said: “De­spite in­creased pres­sure on yield mar­gins, spare ca­pac­ity in the mar­ket and pro­tracted po­lit­i­cal un­cer­tainty within the re­gion, Air Ara­bia con­tin­ues to de­liver strong prof­its and solid busi­ness growth while serv­ing ever-in­creas­ing num­bers of pas­sen­gers. The Com­pany con­tin­ued its ex­pan­sion mode through­out 2015 and we have launched 21 new routes this year, in ad­di­tion to a mul­ti­ple award-win­ning prod­ucts and ser­vices”.

He added: “We re­main fo­cused on ex­pand­ing op­er­a­tions and en­ter­ing new mar­kets while con­sol­i­dat­ing our lead­ing po­si­tion in ex­ist­ing mar­kets as well as de­liv­er­ing an in­no­va­tive and ap­peal­ing prod­uct of­fer­ing to our cus­tomers ev­ery day.”

Air Ara­bia global des­ti­na­tion net­work has reached 115 routes and 21 new routes added to Air Ara­bia’s net­work in the first nine months of 2015, as the air­line con­tin­ued to im­ple­ment its ex­pan­sion strat­egy, in­clud­ing the open­ing of a fifth in­ter­na­tional hub in Jor­dan ear­lier this year.

Rev­enues for the three months end­ing Septem­ber 30, 2015, in­creased by 6 per­cent to stand at AED1.1 bil­lion, com­pared with AED1 bil­lion in the same pe­riod of 2014. Net profit in the third quar­ter of 2015 reached AED235 mil­lion, 6 per cent lower than the cor­re­spond­ing 2014 fig­ure of AED251 mil­lion. More than 2 mil­lion pas­sen­gers were served in the third quar­ter of 2015, an 18 per­cent in­crease on the cor­re­spond­ing pe­riod of 2014, while the av­er­age seat load fac­tor was 80 per­cent.

Air Ara­bia was named ‘Air­line of Year’ at the re­cent Avi­a­tion Busi­ness Awards that took place in Dubai. The car­rier was also named “Best Low-cost Air­line in the Mid­dle East” at the an­nual Sky­trax World Air­line Awards in France, “Best Low-Cost Car­rier” at the 2015 World Tourism Fo­rum Awards in Turkey, and also took home the “Award for Cus­tomer In­no­va­tion” at the first Avi­a­tion Achieve­ment Awards.

Newspapers in English

Newspapers from Kuwait

© PressReader. All rights reserved.