African low-cost carrier Air Arabia (PJSC) has revealed its third-quarter financial results ending September 30, 2019.
During the period, Air Arabia registered a record net profit of AED 471 million for the three months ending September 30, 2019; an increase of 57% compared to the AED 300 million reported for the same period last year.
The company’s turnover for the third quarter of 2019 increased by 12% to AED 1.438 billion, compared to AED 1.282 billion in the corresponding period last year.
The strong third-quarter financial results were backed by solid growth in passenger demand during this period with Air Arabia serving over 3.4 million passengers from its four hubs in the UAE, Morocco and Egypt, an increase of 10% compared to the number of passengers carried in the same quarter last year.
The average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an impressive 82%.
Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia said: “Air Arabia’s record performance in the third quarter of this year reflects the strength of the business model we operate and the added value we bring to our customers everyday.
“We are glad that the strong Air Arabia performance witnessed in the first half of this year continued in the third quarter driven by higher customer demand, robust growth strategy and the cost control measures adopted by the management team.”
During the first nine months of 2019, Air Arabia received two brand new Airbus A321 neo LR airplanes bringing its total fleet size to 55 aircraft. The new Airbus A321, which accommodates 215 passengers, is helping the carrier expand to new medium-haul markets in addition to strengthening the existing routes with increased seat capacity.
Air Arabia added a total of 12 new routes to its global network in the first nine months of this year. Flights from Air Arabia’s main hub in the UAE commenced from Sharjah to Vienna in Austria; Kuala Lumpur in Malaysia; Bishkek in Kyrgyzstan; and Tunis City in Tunis.
The carrier also expanded its operation from its Morocco hub with new flights between Casablanca and Lisbon, Pisa, Prague and Tunis while new flights started between Tangier and Lyon. New flights from the carrier’s hub in Egypt started from Sharm El Sheikh to Milan Bergamo, Amman and Napoli; as well as Sohag to Riyadh.