Air Arabia announces second quarter 2012 net profit of Dh 66 million, up 31 per cent

Air Arabia, announced yesterday its financial results for the three months ending June 30, 2012, demonstrating the continued strength of the airline's business model. For the three months ending June 30, 2012, Air Arabia reported a net profit of Dh 66 million, an increase of 31 per cent compared to Dh 51 million in the corresponding period in 2011. The carrier's turnover for the second quarter of 2012 stood at Dh 729 million, an increase of 23 per cent compared to Dh 592 million reported in the same period of 2011. The airline welcomed onboard 1.3 million passengers in the second quarter of 2012, an increase of 15 per cent compared to the same period last year. Air Arabia's average seat load factor - or passengers carried as a percentage of available seats - for the three months ending June 30, 2012, stood at an impressive 85 per cent, up 3 per cent on the same period last year. "Air Arabia's expansion strategy and efficient operating model continue to be reflected in the airline's financial performance, amidst continues political challenges that the region is witnessing" said Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia. "In the second quarter of this year, our proven ability to identify and capitalise on underserved served routes continued to reap enormous benefits." For the six months ending June 30, 2012, Air Arabia reported a net profit of Dh 115 million, an increase of 22 per cent compared to Dh 94 million in the corresponding period in 2011. The carrier's turnover for the first half of 2012 stood at Dh 1.3 billion, an increase of 22 per cent compared to Dh 1.1 billion reported in the same period of 2011. The airline welcomed onboard 2.5 million passengers in the first half of 2012, an increase of 11 per cent compared to the same period last year. Air Arabia added two new routes in the first half of 2011, with Taif in Saudi Arabia and Salalah in Oman bringing the airlines global network to 75 destinations. Additionally, the airline increased the frequency of flights to Nagpur in India, Dammam and Riyadh in Saudi as well as to Kuwait. The first half of 2012 also saw the delivery of three new aircraft from Airbus as well as Air Arabia completing its first maintenance check with its new hangar facility. – Emirates News Agency, WAM