Air Arabia posts net profits of $52m in first half 2009
Air Arabia has announced its financial results for the period ending June 30, 2009, with a net profit of $52million (Dhs193m). This marks a 21% increase over last year. The carrier reported a 6% increase in turnover to $251m (Dhs922m).
The airline registered a 20% increase in passenger numbers, up to 1.953 million and claims a load factor of 80% for the first six months of the year.
Adel Ali, Group Chief Executive Officer of Air Arabia, said: “Tough economic conditions continue to impact the global aviation sector. We are pleased with the positive results achieved today amidst the ambiguity of global economy performance and the impact of swine flu on air travel trends. Air Arabia's continuous profitability and growth figures demonstrate the fundamental strength of the airline's dynamic business model.
“The coming period continues to add pressure on aviation sectors and we therefore remain focused on maintaining highest levels of operational cost efficiency. We are confident that Air Arabia's strong network, attractive fare-options, value-added services and commitment to passenger convenience will enable it to maintain its leadership position in the regional low-cost sector,” he said.
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