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Air Arabia explodes its profits

Air Arabia closed the second quarter on a very good momentum. The largest low-cost airline in North Africa and the Middle East reported a record net profit of MAD 543 million for the quarter ended June 30, 2019, an increase of 75% compared to 120 million dirhams recorded for the same period last year.

The turnover reached nearly 3 billion dirhams, up 22% year on year. This performance can be explained in particular by the sharp rise in the number of passengers transported. Over the period, 3 million passengers traveled aboard hubs based in the United Arab Emirates, Morocco and Egypt, an increase of 16%.

The total number of passengers carried in the first half reached 5.8 million, up 12%. Half-year sales amounted to MAD 5.6 billion, up 20% year-on-year, while net profit reached MAD 874 million, up 47%.

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