Dubai – Mubasher: Air Arabia reported on Sunday the financial results for the third quarter (Q3) of 2019, according to a company statement.

Net profit surged by 57% year-on-year (YoY) to AED 471 million for the three-month period ended 30 September, compared to AED 300 million in Q3-18.

The firm’s turnover totalled AED 1.438 billion in Q3-19, up 12% from the AED 1.282 billion registered in the same period a year earlier.  

The company's performance was supported by solid growth in passenger demand over the Q3-19, raising the number of carried passengers by 10% on an annual basis to over 3.4 million.

Meanwhile, the average seat load factor over Q3-19 stood at 82%.

“We are glad that the strong Air Arabia performance witnessed in the first half of this year continued in the third quarter driven by higher customer demand, robust growth strategy and the cost control measures adopted by the management team,” said the Chairman of Air Arabia, Sheikh Abdullah Bin Mohamed Al Thani.

During the nine-month ended 30 September 2019, net profit came in AED 809 million, 53% higher than AED 530 million in the prior-year period.

Turnover exceeded AED 3.611 billion in the January-September period of the year when compared to AED 3 billion, posting a 17% YoY increase.

The total number of passengers served soared by 11% annually to 9.2 million over the first nine months of 2019, while the average seat load factor came in 83%.

It is worth pointing that the carrier won the “Best Low-Cost Carrier Award” by Oman Airports and was named the “Low-Cost Airline of the Year” by Aviation Business Awards.

Currently, Air Arabia operates flights to over 170 global destinations in 50 countries from four hubs in the UAE, Morocco, and Egypt.

As for the first half of 2019, Air Arabia logged a net profit of AED 338 million, up 47% year-on-year from AED 230 million.