(MENAFN- Khaleej Times) Air Arabia, the first and largest low-cost carrier in the Middle East and North Africa, on Monday said its first-quarter net profit rose 20 per cent to Dh59 million due to strong operational performance and appealing product offering.
In a statement, Sharjah-based airline said its turnover surged 22 per cent to Dh722 million from Dh594 million in the same quarter last year.
"We are delighted to showcase yet another quarter of strong financial and operational performance," said Shaikh Abdullah bin Mohammad Al Thani, chairman of Air Arabia.
Air Arabia, listed on the Dubai Financial Market, is the Middle East and North Africa's leading low-cost carrier. It commenced operations in October 2003 and currently operates a total fleet of 33 new Airbus A320 aircraft, serving 85 routes from three hubs in the UAE, Morocco and Egypt.
"Today's announcement further demonstrates that Air Arabia continues to set benchmark for the low-cost carrier model as well as for the wider aviation sector in the region. For almost a decade we worked tirelessly to offer a wide range of destinations at affordable prices."
Between January 1, 2013 and March 31, 2013, Air Arabia launched non-stop services from its primary hub in Sharjah to four new destinations. The airline has launched flights from its primary hub in Sharjah to Sialkot in Pakistan, Baghdad in Iraq and Mattala in Sri Lanka. In addition, the low-cost pioneer increased frequency of flights from Sharjah to Beirut in Lebanon, Salalah in Oman, and Dhaka in Bangladesh. Last month, Air Arabia reported that it carried a record 1.4 million passengers in first quarter of this year, the highest number of passengers that the airline handled in a quarter since inception in 2003.
The passenger number represents 18 per cent growth compared to the same period last year. The average seat load factor - or passengers carried as a percentage of available seats - stood at an impressive 82 per cent.
"As the airline is on a steady growth trajectory, the sustained profitability and solid growth margins enable Air Arabia to enter new geographies and launch new ventures. As we are soon celebrating our 10th anniversary, we remain committed to deliver exciting travel solutions to millions of passengers every year," Shaikh Abdullah said.
The first quarter of this year saw Air Arabia taking delivery of two aircraft from Airbus. The airline will receive four more A320 aircraft this year, which is in line with Air Arabia's growth plan to further expand its geographic network and significantly grow the size of its fleet by 2016.
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