16 May 2020
Air Arabia Reports First Quarter Net Profit of AED 71 Million
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Image Source: Aviation Tribune
Air Arabia, the Middle East & North Africa’s first and largest low-cost carrier, reported a profitable first quarter (January to March) 2020 despite COVID-19 impact on the carrier’s first-quarter financial and operational performance.
Air Arabia reported a net profit of AED 71 million for the three months ending March 31, 2020, 45 percent less than the corresponding 2019 figure of AED128 million. In the same period, the airline posted a turnover of AED 901 million, 12 percent less than the corresponding first quarter of last year.
More than 2.4 million passengers flew with Air Arabia between January and March 2020 across the carrier’s four hubs, a 14 percent lower than the number of passengers carried in the first quarter 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 2020 maintained its high average and stood at 83 percent.