Published on : Saturday, August 16, 2014
Air Arabia , the largest low-cost carrier operator in the Middle East and North Africa, announced today its financial results for the second quarter ending June 30, 2014, underlining the airline’s market leading position, strong business model and consistent performance.
Air Arabia’s financial results for the second quarter of this year exceeded analyst expectations, with the airline recording an outstanding net profit of AED 173 million for the three months ending June 30, 2014, an increase of 128 per cent compared to AED 76 million reported in the corresponding period of 2013. In the second quarter of this year, Air Arabia posted a turnover of AED 915 million, an increase of 15 per cent compared to AED 797 million in the same period of 2013.
The airline served over 1.6 million passengers in the second quarter of 2014, an increase of 8 per cent compared to the 1.5 million passengers carried in the same period of last year. The airline’s average seat load factor – or passengers carried as a percentage of available seats – during the second quarter of 2014 stood at an impressive 84 per cent.
The 2014 second quarter financial results represent an all-time high for the airline and were driven by Air Arabia’s unique and innovative business practices, especially its dynamic fuel management policy and unrelenting focus on cost management.
“Air Arabia’s outstanding start to 2014 has accelerated in the second quarter as the investments made into our operational capacity and cost management have continued to deliver results,” said Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia. “We have seen an 11% increase in capacity in the first half of this year, yet we have sustained a high average seat factor and seen first half turnover increase by 15 per cent. The average yield for the first half 2014 has also increased by 6%, a record that is not only among the highest in the industry but that also reflects the true low cost management practices that Air Arabia follows.”
Source:-Air Arabia
Tags: Air Arabia second quarter 2014 net profit rises 128% to AED 173 million, Airline News
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