Air Arabia Q1 profit takes a virus hit
Sharjah-based Air Arabia saw Q1profit fall 45%, blaming the coronavirus pandemic that has crushed travel demand. The airline made Dh71m in the three months to March 31, compared to Dh128m dirhams a year earlier. Revenue fell 12% to Dh901m and quarterly passenger traffic declined 14% to 2.4m. The airline recorded a strong start to the year but the coronavirus outbreak impacted overall performance in the first three months of the year, Chairman Sheikh Abdullah Bin Mohamed al-Thani said. Air Arabia also operates hubs in Ras Al Khaimah and in Egypt and Morocco. It laid off dozens of employees in the first quarter, blaming the impact of the virus, and warned the pending launch of its joint venture airline with Etihad Airways in Abu Dhabi was dependent on market conditions.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-05-18/unaligned/air-arabia-q1-profit-takes-a-virus-hit
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Air Arabia Q1 profit takes a virus hit
Sharjah-based Air Arabia saw Q1profit fall 45%, blaming the coronavirus pandemic that has crushed travel demand. The airline made Dh71m in the three months to March 31, compared to Dh128m dirhams a year earlier. Revenue fell 12% to Dh901m and quarterly passenger traffic declined 14% to 2.4m. The airline recorded a strong start to the year but the coronavirus outbreak impacted overall performance in the first three months of the year, Chairman Sheikh Abdullah Bin Mohamed al-Thani said. Air Arabia also operates hubs in Ras Al Khaimah and in Egypt and Morocco. It laid off dozens of employees in the first quarter, blaming the impact of the virus, and warned the pending launch of its joint venture airline with Etihad Airways in Abu Dhabi was dependent on market conditions.<br/>
