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Air Arabia Reports Solid First Quarter 2020 Net Profit

Air Arabia recently reported a profitable first quarter (January to March) of the current year despite COVID-19 impact on the carrier’s first quarter financial and operational performance.

 Air Arabia reported a net profit of AED 71 million for the three months ending March 31,, a 45 percent less than the corresponding 2019 figure of AED128 million.

In the same period, the airline posted a turnover of AED 901 million, a 12 percent less than the corresponding first quarter of 2019. More than 2,4 million passengers flew with Air Arabia between January and March of this year 20 across the carrier’s four hubs, a 14 percent lower than the number of passengers carried in the first quarter of 2019.

 The airline’s average seat load factor – or passengers carried as a percentage of available seats – during the first three months of this year maintained its high average and stood at 83 percent.

 Air Arabia managed to register a profitable first quarter despite performance being impacted by COVID-19 pandemic that hit the global air travel in mid-February and continues to impact the aviation industry.