Air Arabia PJSC Reports Earnings and Passenger Traffic Results for the Third Quarter and Nine Months of 2012; Provides Earnings and Passenger Traffic Guidance for the Year 2012
The company's net profit for the first nine months of 2012 stood at AED 342 million, up 75% compared to AED 195 million for the same period in 2011. For the first nine months, the company also registered a turnover of AED 2.187 billion, an increase of 21% compared to the same period last year.
The company has also recorded a 14% increase in passenger traffic to over 1.3 million in the third quarter of 2012 and an average seat load factor, or passengers carried as a percentage of available seats, of 82%. The key driver here is the proliferation of routes not served by full service airlines - carriers like Air Arabia and flydubai are capitalising on this, especially as the population around a 5hour flight radius of the GCC tops over 2.5 billion people.
The company served more than 3.9 million passengers during the first nine months of 2012, an increase of 12% compared to the same period last year.
For 2012, the company will top profit forecasts as well as maintain and improve load factors which are already at over 82%.