Dubai-listed Air Arabia reports 27% rise in profits

06/11/2017 05:12 AST

The Dubai-listed Air Arabia on Sunday reported a 27 percent increase in third-quarter profit. The low-cost airline said it made a net profit of 376 million dirhams ($102.4 million) in the three months to Sept. 30, compared with 297 million dirhams the same time last year.

Revenues hit 1.16 billion dirhams during the quarter, an increase of 4 percent. EFG Hermes and SICO Bahrain had forecast the Sharjah-based airline would post a profit of 202.3 million dirhams and 285.5 million dirhams respectively, Reuters reported.

Air Arabia served over 2.33 million passengers in the third quarter of 2017, an increase of 3 percent compared to the same period last year, it said in an emailed statement. The average seat load factor - passengers carried as a percentage of available seats - stood at 81 percent.

Sheikh Abdullah bin Mohammed Al-Thani, chairman of Air Arabia, said: "The solid third-quarter results reflect the continuous appeal for our value-driven product combined with the cost control measures and robust growth strategy adopted by the airline management team. We are glad to see Air Arabia delivering strong financial and operational performance throughout 2017 despite the continuous pressure on yield margins that airlines in the region are witnessing."

Air Arabia received three new Airbus A320 aircraft in the first nine months of 2017, and added 14 new routes from its five operating hubs in the UAE, Morocco, Egypt and Jordan.


Arab News

News

Air Arabia Egypt to launch flights between Sohag, Jeddah

20/03/2018

Air Arabia Egypt said on Monday it will launch direct flights between the Egyptian city of Sohag and Jeddah in Saudi Arabia from March 20, 2018. The airline, which is based in Sharjah but with four o

Gulf News

Air Arabia shareholders approve 10% cash dividend

14/03/2018

Air Arabia's shareholders on Tuesday approved the distribution of a 10 per cent cash dividend for the 2017 financial year during the company's annual general meeting.

The dividend, which is

Gulf News

Air Arabia mulls $11bn aircraft order

11/03/2018

Air Arabia has unveiled plans to order 100 narrow-body planes at list prices before the end of the year, a deal estimated to be valued at $11 billion, said a report.

Air Arabia currently o

Trade Arabia

Most Viewed Companies

Ticker Price Volume
NAYIFAT 13.94 229,739
RIBL 24.84 6,676,931
ABC 0.35 370,000
DIC 2.07 2,049,713
ALRAJHI 85.00 7,711,297
A.OTHAIMMARKET 11.90 545,416
ZAINKSA 10.82 1,868,409

Valuation

AIRARABIA Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
PAPER 191.00 0.00 (0.00%)
DIC 2.07 -0.01 (-0.49%)
AGLTY.DFM 2.86 -0.05 (-1.72%)
AGLTY 234.00 1.00 (0.42%)
NIND.DFM 5.00 0.00 (0.00%)

Recent News

EEC's capital optimization plan to shore up financial position and sustain growth: CEO

14/09/2024

RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <

Saudi Gazette

Arabian Mills set final IPO price at $17.59 per share as CEO details growth vision

12/09/2024

Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces

Arab News

SABIC-MCC joint venture starts output

04/05/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

logo

Financial Information Co.

(MITCO), P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap