Air Arabia records a net profit of AED 158m in second quarter
A Monitor Report
16 Aug, 2017  |
: Air Arabia has announced better than expected financial results in its second quarter results for 2017.
The Middle East and North Africa's largest low-cost exceeded analysts' expectations and registered a net profit of AED 158 million, an increase of 21 per cent compared to the AED 131 million reported for the same period last year. The company's turnover for the second quarter of 2017 increased to AED 906 million, compared to AED 894 million in the corresponding period last year.
Air Arabia served over 2.05 million passengers in the second quarter of 2017, while the average seat load factor-passengers carried as a percentage of available seats_ is at 79 per cent.
Air Arabia's net profit for the first six months of 2017 now stands at AED 261 million, up 7 per cent year on year. Turnover for the first six months of this year reached AED 1.716 billion, and the airline has ferried over 4.1 million passengers in the first six months of 2017 at an average seat load factor of 79 per cent.