Dubai - Mubasher: Air Arabia reported a 17% decline in profits for the nine-month period ending 30 September 2018.

Although revenues rose by 10% to AED 1.28 billion, net profits for the first nine months of the year stood at AED 530 million.

High oil prices and currency devaluation affected the company’s profitability, however, the financial results demonstrated high levels of profitability and solid operational metrics, according to a company statement.

More than 6.6 million passenger flew with the low-cost pioneer during the nine months of 2018 while the average seat load factor, or passengers carried as a percentage of available seats, for the same period stood at an impressive 80%.