Air Arabia 2019 profit surges
Air Arabia posted an 80% surge in 2019 net profit, aided by higher passenger numbers from its four hubs in the UAE, Morocco and Egypt. The budget carrier posted a net profit of Dh1b for the year ending December 31, 2019 after recording a year-ago loss, when it was hurt by a significant impairment charge linked to its exposure to collapsed private equity firm Abraaj. The firm said full year turnover rose by 15% to Dh4.75b and 16 new routes were added to the airline group network. The airline proposes a dividend distribution equivalent to 9 fils per share. The full year financial results were backed by growth in passenger demand with Air Arabia serving more than 12m passengers from its four hubs in the UAE, Morocco and Egypt, up 10% compared to the 11m passengers carried last year, Air Arabia said. The average seat load factor for the full year increased 2% to 83%, the airline said.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-02-10/unaligned/air-arabia-2019-profit-surges
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Air Arabia 2019 profit surges
Air Arabia posted an 80% surge in 2019 net profit, aided by higher passenger numbers from its four hubs in the UAE, Morocco and Egypt. The budget carrier posted a net profit of Dh1b for the year ending December 31, 2019 after recording a year-ago loss, when it was hurt by a significant impairment charge linked to its exposure to collapsed private equity firm Abraaj. The firm said full year turnover rose by 15% to Dh4.75b and 16 new routes were added to the airline group network. The airline proposes a dividend distribution equivalent to 9 fils per share. The full year financial results were backed by growth in passenger demand with Air Arabia serving more than 12m passengers from its four hubs in the UAE, Morocco and Egypt, up 10% compared to the 11m passengers carried last year, Air Arabia said. The average seat load factor for the full year increased 2% to 83%, the airline said.<br/>
