Air Arabia report first quarter 2015 net profit

Air Arabia (PJSC), the first and largest low cost carrier operator in the Middle East and North Africa, today announced its financial results for the first quarter of 2015 as the airline's route and hub expansion strategy continued to deliver strong financials and healthy passenger number growth.

For the three months ending March 31, 2015, Air Arabia reported a net profit of AED 85 million, an increase of 13 per cent on the corresponding 2014 figure of AED 75 million. During the same period, the airline's turnover reached AED 886 million, an increase of 7 per cent compared to AED 827 million in the first quarter of last year.

1.8 million Passengers flew with Air Arabia between January and March 2015, which is 10 per cent higher than the number of 1.6 million for the corresponding period of last year. The airline's average seat load factor - or passengers carried as a percentage of available seats - during the first three months of 2015 stood at an impressive 81 per cent.

"We are delighted to record another quarter of strong performance across our operations, with Air Arabia maintaining its steady, long-term growth trajectory," said Sheikh Abdullah Bin Mohammed Al Thani, Chairman of Air Arabia. "The increase in profits coupled with continuous growth in seat factors and ever expanding route strategy is a reflection of Air Arabia's sustainable business model".

Air Arabia reached two major milestones in its route and hub expansion strategy in the first quarter of 2015. In January, the airline announced the opening of its fifth global fixed-based operation, located at Amman Queen Alia International Airport in Jordan, reinforcing its market leading position within the Levant region. Later in the quarter, Air Arabia became the first low-cost airline from the Middle East and Africa to enter the Chinese market when it began regular non- stop services to Urumqi, the largest city in Western China.