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Marking strong growth in passenger demand, Air Arabia flew 4.2 million passengers during the first half of this year Marking strong growth in passenger demand, Air Arabia flew 4.2 million passengers during the first half of this year

Air Arabia Reports Net Profit of AED230 Million

Air Arabia announced strong financial results for the first half ending June 30.

Specifically, Air Arabia reported a net profit of AED230 million (USD63 million) for the first half ending June 30, which was 12 percent less than the AED261 million (USD71 million) reported for the same period in 2017. The company’s turnover for the first six months of this year reached AED1.816 billion (USD0.49 billion), an increase of six percent compared to AED1.716 billion (USD0.47 billion) in the corresponding period in 2017.

Air Arabia’s strong profits are registered despite the economic pressure that airlines have witnessed in the second quarter of this year, which was driven by lower yield margins, higher fuel prices and seasonality shift in traffic that the market has experienced.