Abu Dhabi - Mubasher: Air Arabia’s net profit grew 8% year-on-year to AED 110 million in the first quarter of 2018
The Dubai-listed carrier’s turnover also increased by 8% year-on-year to AED 877 million in Q1-18, according to a bourse statement released on Thursday.
“The strong financial performance for the first quarter is a reflection of the robust business model that we operate and is driven by our clear strategy for growth,” Air Arabia’s chairman Abdullah Bin Mohamed Al Thani commented.
Number of passengers flew with the UAE-based carrier registered over 2 million in the three-month period ended 31 March 2018.
“We remain optimistic about the prospects of low cost air travel in the wider region and our ability to continue to report sustained profitability and achieve solid growth margins across our network,” Al Thani said.
During the first three months of 2018, Air Arabia launched three new routes from its hubs in the UAE and Egypt: from Sharjah to Moscow Sheremetyevo in Russia, and to Jeddah and Kuwait from Sohag in Egypt.
