• Net profits for 2014 reach AED566m ($154m)
  • Passenger numbers rise by 12 per cent, driving revenue growth
  • Airline reports decline in fourth-quarter profit

Low-cost Middle Eastern airline Air Arabia has reported a 30 per cent increase in profits in 2014 compared with the previous year.

Net profits in 2014 reached AED566m ($154m) against the AED435m reached in 2013.

Air Arabia’s rising turnover is being driven by increasing passenger numbers.

The airline carried more than 6.8 million passengers in 2014, a 12 per cent increase on the previous year.

The average seat load, or passengers carried as a percentage of available seats, stood at 81 per cent for year.

Over the last year, Air Arabia has been expanding its network and adding new aircraft to its fleet.

Despite the overall positive results for 2014, Air Arabia’s net profit for the fourth quarter did drop by 28 per cent to reach AED94m.

The airline put this decline down to a temporary downward correction to the fuel hedge portfolio.