Air Arabia 2014 full year net profit climbs30% to AED 566 million

The airline’s turnover for the full year 2014 reached AED 3.7 billion, an increase of 17 per cent on 2013, driven by increased passenger numbers.

Air Arabia carried over 6.8 million passengers in 2014,12 per cent more than last year.

The average seat load factor – or passengers carried as a percentage of available seats – for the same period stood at an impressive 81 per cent.

These results were announced following a meeting of the Board of Directors of Air Arabia, who have proposed a dividend distribution of 9 per cent of capital, which is equivalent to 9fils per share. This proposal is subject to ratification by the shareholders of Air Arabia at the company’s upcoming Annual General Meeting.

Commenting on the results, Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia, said: “Our program of expansion into new markets combined with improved operational efficiencies has led to another year of sustained growth and profitability for the airline. The strong performance over the year is also testament to our focus on delivering outstanding quality and value to our customers.”

Al Thani continued: “The year 2015 continue to witness political uncertainty in some parts of the region and with the current fluctuating fuel prices, the pressure on the global economies is increasing. Despite the regional and global economical and geo-political challenges, we remain highly confident about the long-term prospects for our business”.

He concluded: “We have begun this year with the aim of continuing our strategy to expand into new markets and increase our network coverage, making air travel accessible to millions of customers across the MENA region and beyond.”