Air Arabia internet revenue soars by 26 per cent for Q3 2016GulfRetail


Air Arabia Q3 internet revenue soars by 26%

November 14, 2016 eleven:fifty nine am

Air Arabia internet revenue for the third quarter this yr soars by 26 per cent. (Picture: Alamy)

Finances service Air Arabia noticed 26 per cent rise in Q3 internet revenue

It’s the UAE’s solely publicly listed airline

Robust efficiency ‘reflection of economic and operational strengths’: Chairman

Price range service Air Arabia, the United Arab Emirates’ solely publicly listed airline, reported a 26 % rise in third-quarter internet revenue on Sunday.

The Sharjah-based mostly agency made a internet revenue of AED297 million ($eighty.9m) within the three months to Sept. 30, the corporate stated in a press release. This compares with a revenue of AED235m within the corresponding interval of 2015.

EFG Hermes and SICO Bahrain had forecast the airline would make a 3rd-quarter revenue of AED294.5m and AED209.4m respectively.

Sheikh Abdullah Bin Mohammed Al Thani, Chairman of Air Arabia stated: “The robust third quarter and yr thus far efficiency is a mirrored image of Air Arabia’s business and operational strengths supported by the corporate’s dedication to ship excessive worth air journey to its clients and return on investments to its shareholders”.

He added: “Regardless of difficult buying and selling circumstances pushed by extra capability out there, political instability in some markets and the impact of decrease oil worth within the regional economies, we stay assured concerning the lengthy-time period prospects for the low value business in area and our capability to proceed with our progress plans whereas delivering our worth-for-cash promise to our clients on a regular basis”.

(Air Arabia second quarter outcomes right here)

(With enter from Reuters)

Supply: Press Launch