Air Arabia posted a 26 per cent increase in third-quarter net profit as the airline carried more passengers, the Sharjah-based low-cost carrier said today.
Net profit in the three months to September 30 reached Dh297 million, up from Dh235m in the year-earlier period. Turnover of Dh1.1 billion was in line with last year’s third-quarter figure.
Passenger numbers for the airline, which competes with flydubai in the low-cost segment, surged 14 per cent to more than 2.27 million in the third quarter from 2 million a year earlier.
Average seat load factor – or passengers carried as a percentage of available seats – stood at 81 per cent in the third quarter.
Air Arabia’s results contrast with those of the Emirates Group, which posted a 64 per cent plunge in first-half net profit to Dh1.3 billion because of the strength of the US dollar and a challenging operating environment.
Air Arabia added five new routes to its global network during the first nine months of this year from its operating hubs in the UAE, Morocco and Jordan.
dalsaadi@thenational.ae
