Air Arabia, one of the popular low-cost carriers (LCCs) in the Middle East, has recently announced its financial results for a period of nine months. The results threw light on the fact that this airline, popular for providing the best international airfares, has maintained their position as one of the pioneers for leading a successful low-cost model. This goes on to justify the fact that this carrier has been recently named as the low-cost carrier of the year at the Aviation Business Awards 2013.
Profit of More than AED 340 million
Air Arabia airline posted a gross profit of AED 341 million for a period of nine months after the completion of the 2012 fiscal. The total turnover for this LCC stood at over AED 2 billion till September, 2013. This figure provides information on the fact that this airline was able to post 14 percent increase in its net income during the same interval when compared to that of 2012. Apart from this, this LCC was also able to pull in more passenger traffic during this period, the numbers showing almost a 15 per cent upsurge. Combined together with an impressive load factor, which was at 81 per cent during this interim, the airline was once again able to prove why it is regarded as the best in this region.
As a result of all these factors, the LCC would be looking to maintain its standard and improve in all respects. Increasing the number of its destinations will be one of its prime targets in the near future. Services between popular destinations have already been started like initiation of Bangalore to Dubai flights that show the intentions of this carrier to widen its network on a global scale. The LCC will definitely try to end the financial year of 2013 with increased profit margin and maintain the good work in 2014.