Record gains for Air Arabia. The low cost company, which has a hub in Morocco, recorded, for the first time, a profit of UAE 1 billion in 2019, up 80% year-on-year, according to the results released on Sunday, February 9 (excluding accounting treatment for depreciation of Air Arabia in 2018). The company’s turnover reached UAE 4.75 billion, marking a 15% year-on-year increase.
In a context marked by the difficulties of the airline industry, the company has managed to fare well after a complicated 2018. “The strong financial results for the year were supported by strong growth in passenger demand, Air Arabia serving more than 12 million passengers from its four hubs in the United Arab Emirates, Morocco and Egypt, representing a 10% increase over the 11 million passengers carried last year.” Note that the average occupancy rate reached 83%, increasing by 2% over the year.