Air Arabia, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, announced its financial results for the first nine months ending September 30, 2014, as the success of the company’s hub and network expansion strategy continued to be reflected in strong performance figures.
Air Arabia’s net profit for the first nine months of 2014 stood at AED 498 million, up 46 per cent compared to AED 341 million reported in the corresponding period of 2013. For the nine months ending September 30, 2014, the airline posted a turnover of AED 2.8 billion, an increase of 17 per cent compared to AED 2.4 billion in the same period of 2013. The low-cost aviation pioneer served over 5.1 million passengers in the first nine month of 2014, a 13 per cent year-on-year increase. The average seat load factor – or passengers carried as a percentage of available seats – for the same period stood at an impressive 82 per cent.