Air Arabia profits jump 75% as passenger traffic rises

Air Arabia reported on Wednesday a 75% jump in its net profit for Q2 2019 as revenues rose on the back of growth in passenger traffic. The airline said it recorded Dh210m in profits for the quarter, bringing profits in H1 2019 to Dh338m — up 47% year-on-year. This was as passenger numbers for Air Arabia went up by 16% to three million. Turnover for the second quarter rose by 22% to Dh1.14b, bringing turnover for the first six months of the year to Dh2.17b — up 20%. Abdullah Bin Mohammad Al Thani, chairman of Air Arabia, said the financial performance was driven by cost control measures, improved yield margins, and strong passenger demand. “The global and regional aviation industry continued to be impacted by pressing economic challenges and escalating geopolitical tensions during the first half of this year,” he said. “Despite that, Air Arabia managed to register record performance supported by strong passenger demand, momentum growth, and operational efficiency.”<br/>