(MENAFN) The leading low-cost carrier, Air Arabia, hit a record net profit of USD128.2 million for the third quarter (Q3) of the year, an increase of 57 per cent compared to the USD81.68 million reported for the same period last year.

According to reports by Emirates news agency Wam, the company's turnover for Q3 of 2019 increased by 12 per cent to USD391 million, compared to USD349billion during the corresponding period last year.

The strong third quarter financial results were due to a solid growth in passenger demand during this period, with Air Arabia serving over 3.4 million passengers from its hubs in the UAE, Morocco and Egypt, an increase of 10 per cent compared to the number of passengers carried during the corresponding quarter last year.

The average seat load factor " or passengers carried as a percentage of available seats for the same quarter " stood at 82 per cent.Sheikh Abdullah Bin Mohamed Al Thani, chairman of Air Arabia said "Air Arabia's record performance in the third quarter of this year reflects the strength of the business model we operate, and the added value we bring to our customers every day,"

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