UAE's Air Arabia posts record second quarter net profit of $57mln, up 75% | ZAWYA MENA Edition:
Air Arabia today announced strong financial and operational results for the second quarter of this year ending June 30, 2019 as the Middle East and North Africa’s first and largest low-cost carrier continued to deliver robust and sustained performance.
Air Arabia registered a record net profit of AED 210 million for the three months ending June 30, 2019, an increase of 75 per cent compared to the AED 120 million reported for the same period last year. The company’s turnover for the second quarter of 2019 increased by 22 per cent to AED 1.144 billion, compared to AED 938 million in the corresponding period last year.
The strong second quarter financial results were backed by solid growth in passenger demand with Air Arabia serving over three million passengers from its four hubs in the UAE, Morocco and Egypt, an increase of 16 per cent compared to 2.59 million passengers carried in the same quarter last year. The average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at 84 per cent.
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