Air Arabia posts strong Q3 net profit, Up 27%

Air Arabia announced strong financial results for Q3 of this year ending Sep 30, 2017 as the carrier continued to deliver solid and sustained operational and financial performance. Air Arabia’s financial results for Q3 exceeded analysts’ expectations and registered a net profit of AED 376m, an increase of 27% compared to the AED297m (US$102m) reported for the same period last year. The company’s turnover for Q3 increased by 4% to AED 1.16b, compared to AED1.12b in the corresponding period last year. Air Arabia served over 2.33m passengers in Q3, an increase of 3% compared to the same period of last year while the average seat load factor for the same quarter stood at 81%. Air Arabia’s net profit for the first 9 months of 2017 stood at AED637m, up 18% compared to the corresponding period of 2016. <br/>