Air Arabia profits up 35 per cent to $140m

16 February 2009

Air Arabia has announced net profits of AED510m ($139m) for 2008, an increase of 35.6 per cent on the previous year.

The Sharjah-based low-cost airline has revealed that revenues increased 61 per cent to AED2.1bn in 2008, despite the impact of record fuel costs during the first half of the year and the gathering economic downturn during the second half.

The airline carried a total of 3.6 million passengers during the year, up from 2.7 million in 2007. The company’s average passenger load - the number of seats filled on an average flight - was 85 per cent for the year.

The company announced a new hub in Morocco last year, which will begin operations by the end of March this year. The hub is Air Arabia’s third, after Sharjah and Nepal (MEED 3:11:08).

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