Dubai – Mubasher: Air Arabia saw AED 44 million net losses during the third quarter (Q3) of 2020, attributed to the continued impact of the coronavirus (COVID-19) pandemic on airline operations.
The company has generated revenues of AED 294 million in Q3-20 after serving 665,456 passengers from all five hubs in the same period, according to a press release on Tuesday.
During Q3-20, the company's scheduled flights have been partially resumed to a limited number of destinations across the airline's network, which has contributed to limiting the company's net losses.
The Chairman of Air Arabia, Sheikh Abdullah bin Mohamed Al Thani, said: "The year 2020 continues to be a challenging one for the world economy including the aviation sector. However, the fundamentals of the industry remain very strong and air travel will continue to play a vital role in economic recovery."
It is noteworthy to mention that in the first half (H1) of 2020, the airline registered net losses attributable to the owners of the company of AED 168.51 million, compared to net profits of AED 319.8 million in the same period of 2019.
