Monday, November 12, 2012

■ UNITED ARAB EMIRATES: Air Arabia posts huge $61.5million net profit for Q3 2012.

Air Arabia logoAir Arabia Group, the largest low-cost carrier (LCC) in the Middle East and North Africa, today announced a net profit of USD61.5million (AED226 million) for its third quarter (Q3) of 2012, an increase of 126% as compared to USD27.2million (AED100 million) posted in the corresponding period for 2011. 

Air Arabia's network
Air Arabia's network (Air Arabia)
The carrier’s turnover for the third quarter reached USD227million (AED836million), an increase of 19 per cent compared to the same period last year.

Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia, said:
The sustained profitability and solid growth margins signal that Air Arabia is on a steady growth trajectory. The extremely positive financials further validates our concerted efforts to unlock opportunities for the low-cost model, which is pioneered by Air Arabia in the wider Arab region, while continuously making air travel accessible to millions of customers every year”.

The numbers for 2012 so far:
  • Average Seat Load Factor for Q3: 82% (-)
  • Average Seat Load Factor for period Q1-Q3: 83% (-)
  • Total Passenger's carried in Q3: 1'368'728 (+14%)
  • Total Passengers carried in period Q1-Q3:  3.9million (+12%)
  • Total Turnover for Q3: USD227million (+19%)
  • Total Turnover for period Q1-Q3:  USD595million (+21%)
  • Net Profit for Q3: USD61.5million (+126%)
  • Net Profit for period Q1-Q3: USD93.1million (+75%)

In the past quarter, it has added three new destinations - Erbil in Iraq, Uffa in Russia and Odessa in Ukraine – expanded operations from its hubs in Morocco & Egypt and announced launch of additional four routes in October 2012, bringing Air Arabia’s global network reach to 81 destinations.