Air Arabia has posted a 22% increase in net profit to AED251 million in the third quarter of 2014, compared to AED206 million for the year-ago period. Revenues rose by 25% to AED1.06 billion, compared to AED854 million last year. The airline carried 15% more passengers during the quarter at 1.75 million for the quarter, with a flat load factor of 80%.
For the first nine months of 2014, net profit rose 46% to AED498 million, with revenue up 17% to AED2.8 billion. The airline carried 13% more passengers during the nine month period, a 13% year-on-year increase, with a load factor of 82%.
“Air Arabia’s excellent performance for the year-to-date demonstrates the strength of its underlying business model and the effectiveness of its growth strategy,” chairman Sheikh Abdullah Bin Mohammed Al Thani said. “Our focus on expanding both our operational footprint and our route network has created a dynamic platform able to respond to customer demand and seize new commercial opportunities,” he said.
“Despite ongoing political uncertainty in parts of the region—adding to the challenge presented by fluctuating trend in fuel prices—we remain highly confident about the long-term prospects for the industry in the MENA region and our ability to march ahead with our growth plans, while delivering our value-for-money promise to our customer,” he concluded.