Air Arabia Q2 profit marginally up

Posts Dh51m profit; turnover rises 22% to Dh592m

Air Arabia, the first and largest low-cost carrier in the region, said its second quarter profit rose marginally two per cent to Dh51 million compared to the same period last year.

The turnover rose 22 per cent to Dh592 million compared to Dh485 million in the same period of 2010.

The airline served 1,161,944 passengers in the second quarter of 2011, an increase of five per cent compared to 1,108,310 passengers in the same period last year. In the three months ending June 30, 2011, Air Arabia’s average seat load factor – or passengers carried as a percentage of available seats – maintained its impressive rate and stood at 82.5 per cent.

“Air Arabia has consistently shown its resilience to dynamic market conditions,” said Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia.

“The second quarter of this year has seen fuel price averaging to 46 per cent increase in the market fuel bill compared to same quarter of correspondent year. The political turmoil of the region has continued with further escalation in several countries. Despite the challenging market conditions, Air Arabia has achieved steady growth and solid profits for the second quarter, thanks to our focused business model and appealing product.”

“We remain confident about the outlook of low cost travel in the region amidst market ambiguity, continuous challenging conditions and rise trend in fuel cost,” Sheikh Abdullah Bin Mohammad Al Thani continued.

“Air Arabia’s proven business model has well expanded into new markets and ventures, giving the airline a resilient commercial and operational strength. We are pleased with our performance in Q2 and look forward to providing best-in-class services for our customers throughout the year and beyond.”

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