Dubai: Sharjah-based budget carrier Air Arabia recorded a 14 per cent growth in turnover for the first nine months of the year, according to a company statement on Monday.
The carrier posted a turnover of Dh2.3 billion, while net profit stood at Dh341 million for the same period, as per the statement.
“As we mark our tenth anniversary, we will increasingly focus on our business expansion strategy, whilst continuing to introduce innovative low-cost travel solutions that have benefited nearly 40 million passengers that we have served since inception,” Shaikh Abdullah Bin Mohammad Al Thani, Air Arabia’s chairman, said.
Passenger traffic grew by 15 per cent to 4.5 million, with the average seat load factor standing at 81 per cent.
Meanwhile, Air Arabia’s net profit for the third quarter dropped nine per cent to Dh206 million, from Dh226 million recorded during the corresponding time a year ago.
According to the statement, the decline in net profits is due to travel seasonality, with Ramadan, which is normally a slow month for travel, having occurred in July and August.
Meanwhile, turnover for the same period reached Dh854 million, up 6 per cent from Dh804 million, recorded during the same time last year.
Also, Air Arabia carried 1.5 million passengers in the third quarter, climbing 11 per cent over the corresponding period in 2012.
During this period, Air Arabia took the delivery of two A320 aircraft from Airbus, and expects another delivery of two aircraft before the end of the year, the statement showed.
