Airline

Air Arabia reports profits of AED 66 million

Sharjah, UAE; August 7, 2012: Air Arabia, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, announced today its financial results for the three months ending June 30, 2012, demonstrating the continued strength of the airline’s business model.

For the three months ending June 30, 2012, Air Arabia reported a net profit of AED 66 million, an increase of 31 per cent compared to AED 51 million in the corresponding period in 2011. The carrier’s turnover for the second quarter of 2012 stood at AED 729 million, an increase of 23 per cent compared to AED 592 million reported in the same period of 2011.

The airline welcomed onboard 1.3 million passengers in the second quarter of 2012, an increase of 15 per cent compared to the same period last year. Air Arabia’s average seat load factor – or passengers carried as a percentage of available seats – for the three months ending June 30, 2012, stood at an impressive 85 per cent, up 3 per cent on the same period last year.

“Air Arabia’s expansion strategy and efficient operating model continue to be reflected in the airline’s financial performance, amidst continues political challenges that the region is witnessing” said Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia. “In the second quarter of this year, our proven ability to identify and capitalise on underserved served routes continued to reap enormous benefits.” 

For the six months ending June 30, 2012, Air Arabia reported a net profit of AED 115 million, an increase of 22 per cent compared to AED 94 million in the corresponding period in 2011. 

The carrier’s turnover for the first half of 2012 stood at AED 1.3 billion, an increase of 22 per cent compared to AED 1.1 billion reported in the same period of 2011. The airline welcomed onboard 2.5 million passengers in the first half of 2012, an increase of 11 per cent compared to the same period last year.

“Looking ahead, we are confident about the outlook of low cost travel in the region. As we continue expanding into new markets and adding new services, we look forward to providing best-in-class services for our customers throughout the year and beyond” concluded Sheikh Abdullah Bin Mohammad Al Thani.

 Air Arabia added two new routes in the first half of 2011, with Taif in Saudi Arabia and Salalah in Oman bringing the airlines global network to 75 destinations.  Additionally, the airline increased the frequency of flights to Nagpur in India, Dammam and Riyadh in Saudi as well as to Kuwait. The first half of 2012 also saw the delivery of three new aircraft from Airbus as well as Air Arabia completing its first maintenance check with its new hangar facility.

The second quarter of 2012 saw Air Arabia being ranked as the world’s second best performing airline in a study by Aviation Week, the leading global aviation magazine. The Top-Performing Airlines (TPA) Study ranked the top 10 performing airlines worldwide, based on five different performance categories, including financial and operational performance. Air Arabia was the only Middle East airline to claim a spot in the study. 

 

More Airline
Big jump in international passengers for Saudi Airlines
flydubai will fly to Tashkent from 11 March 2019
New Istanbul airport starts operations
Latest Travel News
flydubai will fly to Tashkent from 11 Ma...
ATM Dubai to launch Holiday Shopper on 2...
Agoda partners with Saudi Ministry of ...
Featured Sights To See
Roman Agora

Roman Agora

Athens, Greece

For 500 years from 100 BC to 400 AD this was the commercial heart of Athens. The market place buzzed with the sale of salt, oil and wheat along with a number of other merchants selling their products. Its most outstanding feature is the Gate of Athena, Archegetis,  funded by Julius Caesar and Augustus as the inscription says. The Tower of the Winds located here is well preserved. This tower f...

Smart Museum of Art

Smart Museum of Art

Chicago, United States

The Smart Museum of Art is named for David and Alfred Smart, the founders of Esquire Magazine and the museum's benefactor.  It was founded in 1974 and is the art museum of the University of Chicago.  There are more than 8,000 works on display, split into four different collections: Asian Art, Contemporary Art, European Art, and Modern Art and Design. The Asian Art collection include...

Safeyeh bin Zagr Museum

Safeyeh bin Zagr Museum

Jeddah, Saudi Arabia

The 8 wing museum houses documents and paintings that preserve the traditions, heritage and customs prevalent in Saudi Arabia. Address : The intersection of Crown Street through the city with the downward ...

Parliament of Finland

Parliament of Finland

Helsinki, Finland

The Parliament house was inaugurated in 1931 and since has been a major attraction for tourists who want to get a feel of how the country stands as a political and economic hub. The building is designed in a classic way, finding the right combination of art and functionality. Organized tours are conducted in English between 11am to 12 pm on Saturday and between 12 pm to 1 pm on Sundays. Locat...