Turnover increases 21 per cent to Dh621 million
Budget airline Air Arabia announced on Sunday that its net profit for the first three months of 2012 rose 11 per cent to Dh49.2 million from Dh44.2 million during the same period of the previous year.
In the first quarter of this year, Air Arabia posted a turnover of Dh621 million, an increase of 21 per cent compared to Dh513 million in the same period of 2011.
The airline served 1,230,807 passengers in the first quarter of 2012, an increase of seven per cent compared to 1,153,807 in the same period last year. In the three months ending March 31, 2012, Air Arabia's average seat load factor - or passengers carried as a percentage of available seats - stood at 82 per cent.
"Shortly after the distribution of a six per cent cash dividend was approved by the assembly at Air Arabia's annual general meeting, we are pleased to announce our results for the first quarter of this year," said Sheikh Abdullah bin Mohammad Al Thani, chairman of Air Arabia.
"Air Arabia will continue to enter into new markets and to launch new ventures in 2012," he added.
The first quarter of this year saw Air Arabia flights to Kuwait and Dammam increase to three times daily. Air Arabia's total operating fleet reached 30 aircraft, while the carrier took delivery of the ninth of 44 A320 aircraft it has ordered from Airbus. The airline will receive five more A320 aircraft this year.
© Emirates 24|7 2012
