Abu Dhabi – Mubasher: Air Arabia has reported a net profit of AED 26 million during the fourth quarter of 2018.
The UAE-based carrier’s revenue rose 20% year-on-year to AED 858 million in Q4-18, according to the Emirates News Agency (WAM).
“Air Arabia’s fourth quarter and full year results remain fundamentally strong. Driven by the carrier’s network expansion strategy, cost control measures and the appealing customer demand to our services,” Air Arabia’s chairman Abdullah Bin Mohammad Al Thani commented.
Air Arabia flew more than 2.1 million passengers from October to December, up 5% from the comparative period in 2017.
Revenue grew 10% to AED 4.12 during 2018 versus the year-ago period, WAM reported.
“While regional geopolitical challenges continued to impact the performance of the aviation sector in the region, we are glad that Air Arabia continues to report solid and sustained growth margins across our network which reflects the strength of our business model,” Al Thani said.
Air Arabia logged a 17% decline in profits for the nine-month period ending 30 September 2018, registering AED 530 million.
