Air Arabia limits full-year loss with profitable final quarter

Air Arabia has managed to achieve a second profitable quarter for 2020, enabling it to contain its full-year net loss to Dhs192m ($52m). It turned in a Q4 surplus of Dhs20m, despite a 53% reduction in revenues, having also been profitable in the first. While the Q4 figure is heavily down on the previous Dhs199m profit, Air Arabia attributes the performance to “early measures” to control overall costs while maintaining business continuity. Chairman Sheikh Abdullah bin Mohamed Al-Thani says the result is “testament to the robust business model”. He says the Sharjah-based airlines is “confident” about the “fundamentals” of the air transport sector and its role in economic recovery.<br/>