DUBAI: UAE budget carrier Air Arabia has reported a 45 percent decline in first quarter profit to $19.3 million from $34.87 million of the same period a year earlier, blaming the coronavirus pandemic that obliterated travel demand.
Revenues fell by 12 percent to $2455 million during the three months to March, the airline said in a statement.
More than 2.4 million passengers flew with Air Arabia between January and March across the carrier’s four hubs, a 14 percent lower than the number of passengers carried in the first quarter of last year.
The airline’s average seat load factor – or passengers carried as a percentage of available seats – during the first three months of 2020 maintained its high average and stood at 83 percent.
“The impact of COVID-19 pandemic on the global aviation, which materialized in airport closures, travel restrictions and low travel demand, has affected the overall performance of the quarter,” Sheikh Abdullah Bin Mohamed Al-Thani, the chairman of Air Arabia, said in the statement.
“Since the start of the COVID-19 pandemic, we have reacted quickly and took all possible measures to protect our passengers and crew while ensuring we continue to fly safely where we can.
“Additionally, the management team has taken a series of business decisions to control our fixed and running costs during this period while supporting our business continuity, the Air Arabia official added.
