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Air Arabia Reports Q2 2010 Profit

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Air Arabia has reported a net profit for the three months ending 30 June 2010 of AED 50 million, a decline of 44% compared to AED 90 million in the corresponding period in 2009.

 In the second quarter of this year, Air Arabia posted a turnover of AED 485 million, an increase of 6 per cent compared to AED 458 million in the same period of 2009.

The airline served 1,108,310 passengers in the second quarter of 2010, an increase of 11% compared to 1,002,394 passengers in the same period last year.

In the three months ending 30 June 2010, Air Arabia’s average seat load factor – or passengers carried as a percentage of available seats – stood at an impressive 82%, an increase of 4% compared to same period of 2009.

“We are pleased with Air Arabia’s solid performance despite over all challenging market conditions,” said Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia. “Air Arabia continues to post sustained quarterly profits with a high seat load factor and rising passenger traffic. These results demonstrate the strength of Air Arabia’s business model and long-term expansion strategy.”

“The airline has embarked upon a phase of organic growth, now operating from three hubs across the region,” Sheikh Abdullah Bin Mohammad Al Thani continued. “We are focused on further expanding our operations while strengthening our value-for-money offerings and innovative products.”

In the second quarter of 2010, the airline launched operations from its third hub in Alexandria, Egypt. Air Arabia currently offers service to 65 routes across Europe, the Middle East, Africa and Asia from three hubs in UAE, Morocco and Egypt. The low-cost carrier also announced the formation of Jordan’s first low-cost carrier in a joint venture with Tantash Group.

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