Dubai – Mubasher: Air Arabia on Sunday posts an AED 26 million in net profit during the fourth quarter of 2017, according to a statement to the Dubai Financial Market (DFM).
The company’s revenue surged 5.4% to AED 858 million in Q4-17 versus about AED 814 million in the year-ago period, Air Arabia revealed.
The UAE-based carrier’s net profit soared 30% to AED 662 million in 2017, compared to AED 509 million in 2016.
“Air Arabia has enjoyed consistent and sustained growth in 2017 driven by its network expansion strategy and cost control measures helping us to once again deliver a strong set of results," said Air Arabia’s chairman Abdullah bin Mohammad Al Thani.
Air Arabia’s revenue registered AED 3.74 billion in the last four quarters, the DFM-listed company stated.
“Air Arabia’s ability to continue to report sustained profitability and achieve solid growth margins across our network reflects the strength of our business model and the carrier’s management team,” the chairman concluded.
