Air Arabia profit jumps 30% to Dh662m in 2017
Air Arabia Sunday reported Dh662m (US$180m) in net profit for 2017, marking a 30% jump year-on-year as the airline grew its network and cut costs. The figure puts profit in Q4 at Dh26m, a turnaround from the Dh33m in losses in the last quarter of 2016. Turnover for the year was in line with that of 2016, at Dh3.74b, Air Arabia said, with turnover in Q4 at Dh858m, up 5.4% year-on-year. Operationally, the airline flew over 8.5m passengers in 2017, with a seat load factor of 79%. Air Arabia’s board of directors proposed a dividend distribution of 10% of share capital, equivalent to 10 fils per share. Abdullah Bin Mohammad Al Thani, chairman of Air Arabia, said that while political and economic challenges continued to impact the performance of the aviation industry in 2017, Air Arabia focused on operational efficiency and product offering. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-02-12/unaligned/air-arabia-profit-jumps-30-to-dh662m-in-2017
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Air Arabia profit jumps 30% to Dh662m in 2017
Air Arabia Sunday reported Dh662m (US$180m) in net profit for 2017, marking a 30% jump year-on-year as the airline grew its network and cut costs. The figure puts profit in Q4 at Dh26m, a turnaround from the Dh33m in losses in the last quarter of 2016. Turnover for the year was in line with that of 2016, at Dh3.74b, Air Arabia said, with turnover in Q4 at Dh858m, up 5.4% year-on-year. Operationally, the airline flew over 8.5m passengers in 2017, with a seat load factor of 79%. Air Arabia’s board of directors proposed a dividend distribution of 10% of share capital, equivalent to 10 fils per share. Abdullah Bin Mohammad Al Thani, chairman of Air Arabia, said that while political and economic challenges continued to impact the performance of the aviation industry in 2017, Air Arabia focused on operational efficiency and product offering. <br/>
