Sharjah-based low-cost carrier Air Arabia generated a net profit of AED110m ($29.9m) for the first quarter of 2018, an 8 per cent increase over the figure reported in the corresponding period last year.

The carrier reported a parallel increase in revenue, which reached AED877m.

Abdullah bin Mohamed al-Thani, chairman, Air Arabia, attributed the firm’s strong first quarter financial performance to “strong passenger demand combined with the solid cost control measures".

“We remain optimistic about the prospects of low-cost air travel in the wider region and our ability to continue to report sustained profitability and achieve solid growth margins across our network,” Al-Thani said in a statement.

Air Arabia added three new routes from its hubs in the UAE and Egypt in the first three months of 2018, with flights commencing from Sharjah to Moscow Sheremetyevo in Russia and to Jeddah and Kuwait from Sohag in Egypt.

Air Arabia reported a full year net profit of $180m on the back of AED3.7bn revenue in 2017.