Air Arabia net profit down 4% in 2016
UAE-based Air Arabia reported a 2016 net profit of AED509m (US$138.6m), down 4% compared to AED530m for 2015. Turnover for the full year was steady at AED3.8 billion. The LCC carried 8.4m passengers, up 12% from 2015. Load factor was static at 79%. This was the second year running the company’s net profits have fallen. The Sharjah-headquartered airline, which has other hubs at Amman, Alexandria, Casablanca and Ras Al Khaimah, said it had continued to deliver “healthy growth and strong levels of profitability despite challenging market conditions.” The carrier took delivery of seven Airbus A320s in 2016 and ended the year with 46 of the narrowbodies operating on 124 routes across the Middle East, Africa, Asia and Europe. Further fleet expansion is planned, as the company announced it will take on more A320s, as well as the first of the larger A321.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-02-14/unaligned/air-arabia-net-profit-down-4-in-2016
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Air Arabia net profit down 4% in 2016
UAE-based Air Arabia reported a 2016 net profit of AED509m (US$138.6m), down 4% compared to AED530m for 2015. Turnover for the full year was steady at AED3.8 billion. The LCC carried 8.4m passengers, up 12% from 2015. Load factor was static at 79%. This was the second year running the company’s net profits have fallen. The Sharjah-headquartered airline, which has other hubs at Amman, Alexandria, Casablanca and Ras Al Khaimah, said it had continued to deliver “healthy growth and strong levels of profitability despite challenging market conditions.” The carrier took delivery of seven Airbus A320s in 2016 and ended the year with 46 of the narrowbodies operating on 124 routes across the Middle East, Africa, Asia and Europe. Further fleet expansion is planned, as the company announced it will take on more A320s, as well as the first of the larger A321.<br/>
