Air Arabia Takes 55 Per Cent Profit Increase

Low-cost carrier Air Arabia has posted a 2012 net profit of AED425m ($116m). The figure is up 55 per cent from 2011’s AED274 ($75m). The airline took a six per cent profit increase during the 4Q 2012, recording a profit of AED83m ($23m), with sales of AED755m ($206m). Air Arabia carried over 5.3 million passengers in 2012, up 13 per cent. The carrier’s seat load factor stood at 82 per cent. Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia, said: “As these results signify, Air Arabia continued to demonstrate its concerted efforts to enter into new markets and launch new ventures... The year 2012 saw Air Arabia expand its global network by entering new markets, taking more aircraft deliveries as well as offering its customers wider product offerings and services.” The carrier took six new A320s during 2012 and introduced nine new destination from its primary hub in Sharjah, UAE. It also continued to expand from its hubs in Morocco and Egypt, reaching a network of 82 destinations.

TAGS: Middle East
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