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  • 11-11-21

    Net profit for Air Arabia stands at USD57m

    (MENAFN) On Wednesday Air Arabia stated that net profit for the third quarter of the year amounted at Dh209 million (USD57m), in comparison to a drop of Dh44.1m (about USD 12.0) during the same period last year that was influenced by pandemic-caused travel constraints. Revenue for the time span increased by more than twice to Dh804m (about 218.8USD), in comparison with Dh294m (about USD 80.0) in the same time frame of 2020.

    Chairman of Air Arabia, said Sheikh Abdullah bin Mohamed Al Thani reported, "this performance is supported by the gradual resumption of operations this year, especially in the third quarter, as well as the cost control measures adopted by the management team since the start of the pandemic."

    The Sharjah airline has been moving forward with the enlargement in the aftermath of Coronavirus pandemic in 2020 as low-price airlines bet on a rebound in short-haul travel demand amidst quick vaccine movements all over the world. Air Arabia signed three joint-venture contracts to launch new airlines in Abu Dhabi, Armenia as well as Pakistan.

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