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13 Nov 2019, Gergana Bencheva, EMIS Editor

Air Arabia’s net profit rises 57% y/y in Q3 2019

UAE-based air carrier Air Arabia saw its net profit grow by 57% on an annual basis to AED 471 million for the third quarter of 2019, Arabian Business reported. Revenue between April and July went up by 12% on the year to AED 1.438 billion.

The good results were attributed to an increase in customers as well as to the company’s cost control measures. Over the reported period, Air Arabia carried over 3.4 million passengers from its four hubs in the UAE, Morocco and Egypt. Also, its average seat load factor reached 82%.

Among Air Arabia’s future plans is an expansion to new medium-haul markets. The carrier received two Airbus A321neo LR aircraft this year, bringing its total fleet count to 55 units, Arabian Business noted.

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Original source: Arabian Business