UAE- Mubasher: Sharjah-based airline Air Arabia has reported a 16% year-on-year increase in its net profit for the first quarter of 2019, recording AED 128 million, versus AED 110 million.

The Emirati low-cost carrier has achieved revenue of AED 1.03 billion in Q1-19, up 17% as compared to the same three-month period of 2018, according to a statement.

Moreover, the number of passengers who travelled with Air Arabia during the first three months of 2019 rose by 8% year-on-year to 2.8 million, the UAE's only listed airline said.

The percentage of the passengers carried to the number of available seats in Q1-19 recorded 84%, increasing 3% as compared to the year-ago period, Air Arabia indicated.

“Air Arabia’s strong first quarter financial and operational performance reflects the strength of the business model we operate and the continuing customer demand for Air Arabia’s value-added services,” chairman of Air Arabia Abdullah bin Mohamed Al Thani said.

“We have continued with our network expansion strategy in the first quarter of this year adding new routes and new frequencies across all operating hubs while driving cost margins lower,” Al Thani added.

He further noted that the trading conditions in the region would be mainly impacted by oil price, geopolitical, and economic developments.

“Nonetheless, we are confident of the long-term fundamentals of the aviation sector in the region, and the increased demand for affordable air travel that Air Arabia now serves across a wide geographic network in the Middle East, Asia, Africa, and Europe,” he highlighted.

In February, Air Arabia announced had achieved a net profit of AED 26 million in Q4-18, while its revenue jumped to AED 858 million.