Air Arabia releases financial results in first half of 2013
Air Arabia has announced its financial results for the period ending June 30, 2013, highlighting the fundamental strength of Air Arabia's business model and demonstrating sustainable profitability during the first half of this year.
The company’s net profit for the first half 2013 stood at AED 134 million, an increase of 17 per cent compared to AED 115 million for the first six months of last year. During the first half of 2013, the company registered a turnover of AED 1.5 billion, up 19 per cent from AED 1.2 billion for the first half of 2012.
Air Arabia’s net profit for the second quarter of this year exceeded analysts’ forecast and registered AED 76 million, an increase of 15 per cent compared to AED 66 million for the second quarter of 2012. Turnover for the second quarter of 2013 rose by 17 per cent to AED 797 million, compared to AED 681 million for the second quarter of last year.
The airline served over 3 million passengers during the first half of 2013; a 16 per cent increase compared 2.6 million passengers during the same period last year. Air Arabia’s average seat load factor – or passengers carried as a percentage of available seats – for the first six month of 2013 stood at an extremely impressive 82 per cent.
“Air Arabia is pleased to announce strong and solid financial performance despite on-going political turmoil in parts of the region, which continues to impact the transport sector and the regional economic growth,” said Sheikh Abdullah Bin Mohammed Al Thani, chairman of Air Arabia. “The airline’s commercial and operational strength have allowed it to further invest in its own growth, carry more people and register sustained and strong performance”.
Al Thani concluded: “We will continue to focus on our business expansion strategy which will enable us to launch new services and enter new geographies in the coming six months, while continuously offering our customers the best value for money deals”.
Sheikh Abdullah Bin Mohammed Al Thani, chairman of Air Arabia
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