Air Arabia makes Dh1bn in profit in 2019 – The National

Air Arabia makes Dh1bn in profit in 2019 – The National

Air Arabia makes Dh1bn in profit in 2019. Figure is an 80 per cent increase on adjusted profit made a year earlier, low-cost carrier says. Sharjah-based Air Arabia, the only listed carrier in the UAE, reached a milestone of generating more than Dh1 billion in net profit in 2019.. The company said the net profit figure was an 80 per cent increase on the profit made in 2018, which excluded one-off impairments the company booked on investments.. Air Arabia's revenue in 2019 also witnessed a double-digit increase, up 15 per cent to Dh4.75bn.. Despite all that, we are proud that Air Arabia managed to deliver a track record year in its young history and to cross, for the first time, the Dh1bn mark in profitability".. Air Arabia is one of two UAE-based low-cost carriers and is set to be a joint venture partner in a third, Air Arabia Abu Dhabi, with Etihad Airways.. The company benefited from lower fuel prices in the final quarter of the year, when it made a net profit of Dh199m, up from Dh26m in the same period in 2018.. Revenue in the final quarter also increased to Dh1.14bn, from Dh1bn in the last three months