SHARJAH, United Arab Emirates; Air Arabia (PJSC), announced today its financial results for the three months ending March 31, 2013. The Sharjah based airlines reported a net profit of AED 59 million for the three months ending March 31, 2013.

This marks an increase of 20 percent compared to AED 49 million in the corresponding quarter in 2012.

In the first quarter of this year, Air Arabia posted a turnover of AED 722 million, an increase of 22 per cent compared to AED 594 million in the same period of 2012.

Between January 1, 2013 and March 31, 2013, Air Arabia launched non-stop services from its main hub in Sharjah to four new destinations. In addition, Air Arabia increased frequency of flights from Sharjah to Beirut in Lebanon, Salalah in Oman, and Dhaka in Bangladesh.  

Last month, Air Arabia reported that it carried a record 1.4 million passengers in first quarter of this year, the highest number of passengers that the airline handled in a quarter since inception in 2003. The passenger number represents 18 per cent growth compared to the same period last year. The average seat load factor – or passengers carried as a percentage of available seats – stood at 82 percent.

Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia said: “We are delighted to showcase yet another quarter of strong financial and operational performance.

“Today’s announcement further demonstrates that Air Arabia continues to set benchmark for the LCC model as well as for the wider aviation sector in the region. For almost a decade we worked tirelessly to offer what our customers– a wide range of destinations at affordable prices.

“As the airline is on a steady growth trajectory, the sustained profitability and solid growth margins enable Air Arabia to enter new geographies and launch new ventures. As we are soon celebrating our 10th anniversary, we remain committed to deliver exciting travel solutions to millions of passengers every year.” 

The first quarter of this year saw Air Arabia taking delivery of two aircraft from Airbus. The airline will receive four more Airbus A320 aircraft this year.