Air Arabia third-quarter profit lifted by passenger gains

The Sharjah-based low-cost carrier posted a 26 per cent increase in third-quarter net profit.

Air Arabia posted a 26 per cent increase in third-quarter net profit as the airline carried more passengers, the Sharjah-based low-cost carrier said today.

Net profit in the three months to September 30 reached Dh297 million, up from Dh235m in the year-earlier period. Turnover of Dh1.1 billion was in line with last year’s third-quarter figure.

Passenger numbers for the airline, which competes with flydubai in the low-cost segment, surged 14 per cent to more than 2.27 million in the third quarter from 2 million a year earlier.

Average seat load factor – or passengers carried as a percentage of available seats – stood at 81 per cent in the third quarter.

Air Arabia’s results contrast with those of the Emirates Group, which posted a 64 per cent plunge in first-half net ­profit to Dh1.3 billion because of the strength of the US dollar and a challenging operating ­environment.

Air Arabia added five new routes to its global network during the first nine months of this year from its operating hubs in the UAE, Morocco and Jordan.