Air Arabia Q1 net drops 22pc despite 8pc turnover rise
Air Arabia, the first and largest low-cost carrier (LCC) operator in Mena, saw its Q1 net profit dropping 22% to AED266m ($72.42m), despite its turnover increasing 8% to AED1.54b during the period. The first quarter net profit achieved was driven by robust passenger demand and revenue growth. These results were also impacted by the seasonality shift during the month of Ramadan, higher fuel price, currency fluctuations in key markets, and ongoing supply chain challenges that contributed to higher inflationary costs across the industry.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-05-14/unaligned/air-arabia-q1-net-drops-22pc-despite-8pc-turnover-rise
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Air Arabia Q1 net drops 22pc despite 8pc turnover rise
Air Arabia, the first and largest low-cost carrier (LCC) operator in Mena, saw its Q1 net profit dropping 22% to AED266m ($72.42m), despite its turnover increasing 8% to AED1.54b during the period. The first quarter net profit achieved was driven by robust passenger demand and revenue growth. These results were also impacted by the seasonality shift during the month of Ramadan, higher fuel price, currency fluctuations in key markets, and ongoing supply chain challenges that contributed to higher inflationary costs across the industry.<br/>
