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Thu, 08 Jan 2009 | 18:53 GMT

Air Arabia   (AIRARABIA.DFM)
Sector | Industry
Transport | Airlines
 
Country of Origin
United Arab Emirates
Last Trade
0.94 AED
- 3.09%
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Updated: Mar 28, 2008
 
UAE
Joint Stock
 
 
Provides air transportation services for passengers.
2003 (February)
650
 
AIRARABIA 
Ordinary 
AED 
 
 Key Officers
HH Sheikh Abdullah Bin Mohammed Al Thani
Chairman
Adel Abdullah Ali 
Chief Executive Officer
 
 Contact Details
Address:
Sharjah Freight Center (Cargo)
P.O. Box 132
Sharjah
United Arab Emirates
 
+971 6-508-8888
 
+971 6-558-0008
+971 6-558-0244
 
contactus@airarabia.com
 
www.airarabia.com
 
www.flyyeti.com

 
  Latest Headline
CEO of Air Arabia Reveals Increase in Aircrafts Operating in the UAE - Press Release
 
  IPO Details
Listing Date:
17Jul07
Size of Offering:
$713.03M
Equity Offering:
55%
Lead
Managers:
SHUAA Capital
 

  Business Overview
Air Arabia provides air transportation services for passengers through 11 aircrafts and to 37 destinations, as of December 2007. Operating out of Sharjah International AiportSharjah International AiportLoading..., the airline was established in February 2003 as the first low carrier in the Middle East.

In 2007, Air Arabia carried 2.7 million passengers, a 50% yearly increase. The airline increased its fleet size to 13 A320 aircrafts, 11 leased and two owned, by March 2008.

Through a joint venture agreement with Yeti Airlines of Nepal, Air Arabia formed Yeti International Airlines, a low-cost carrier, which allows it to serve South and Central Asia, the Far East, the Middle East and the Indian Subcontinent. Yeti International Airlines, which began operations in January 2008, hopes to reach 20 destinations, own six aircrafts and carry up to 1.4 million passengers by 2010.

Air Arabia underwent an IPO on March18, 2007 with 55% of its shares on offer, worth AED2.618 billion (USD712.76 million). In July 2007, the Airline listed its shares on the Dubai Financial Market, and became the third publicly listed airline in the MENA region, after Karthago AirlinesKarthago AirlinesLoading... and TunisairTunisairLoading....

Air Arabia plans for its Sharjah hub to reach up to 50 destinations, own 19 aircrafts and carry up to 4.5 million passengers by 2010. Air Arabia also plans to seek out a third hub before the end 2008.
 
 
  Industry Benchmarks  Yr 2006  Yr 2007  Change (%)
 
  Passenger Traffic 1,763,000  2,700,000  53.15 
 
  Fleet Size 11  37.50 
 
  No. of Destinations 32  37  15.63 
 
  Passenger Load Factor (PLF) 79.6%  86%  N/A 
 
  Revenue Passenger km (RPK million) 3,738  5,000  33.77 
 
  Available Seat km (ASK million) 4,696  5,800  23.52 
 
  Skytrax Ranking (Stars) 3  3  0.00 
View latest report on Aviation 
 
 Major Shareholders
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 Available to subscribers only. Information in this section includes Shareholder Names and their corresponding Holding Percentages. » More Details
 
  Organization Structure and Related Entities
Subsidiaries/Associates/Affiliates
 
Name  Country  Holding
Red Marketing Communications UAE 100.00%
HAECO Sharjah Aircraft Maintenance Company UAE 51.00%
Information Systems Associates UAE 51.00%
Yeti International Airlines [FlyYeti.com] Nepal 51.00%
Sharjah Airport Travel Agency (SATA) UAE 50.00%
Sharjah Aviation Services UAE 50.00%
Developments and Projects
 
Name  Country  Holding
Air Arabia Centro Hotel UAE -
Alpha Aviation Academy UAE -
Related Organizations
 
Name  Country  Holding
Arab Air Carriers Organization Lebanon -
 
 
  Representatives
Auditors
 
Deloitte and Touche
 
Banks
 
HSBC Bank Middle East
 
Law Firms
 
Al Tamimi and Company Legal Advocates
 
 
 Summary Financials
This Requires Subscription
 Available to subscribers only. Information in this section includes key financials data such as Total Revenues, Net Profits, Totals Assets, Shareholder Equity, etc. » More Details
 
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