Air Arabia posts 52% drop in Q1 profit, benefits from resumption of select air routes

Air Arabia on Sunday reported a 52% fall in Q1 profit, compared to the same period a year earlier. The Sharjah-based airline’s Q1 net profit stood at Dh34m for the three months ending March 31, 2021. The company had posted a profit of Dh71m in Q1 of 2020. More than 1.3m passengers flew with Air Arabia between January and March 2021 across the carrier’s five hubs while the airline’s average seat load factor – or passengers carried as a percentage of available seats – stood at 77%. “We are proud that Air Arabia managed to post another profitable quarter despite the continued impact of the COVID-19 pandemic on the aviation industry worldwide - this is a testament to the carrier’s robust business and its management team,” said Abdullah Al Thani, Chairman of Air Arabia. “Although the tightened restrictions on air travel continued in the first quarter of this year, the gradual resumption to selected destinations combined with cost control measures adopted by the carrier helped to deliver profitability during the first quarter of this year,” he added.<br/>