Air Arabia reports USD99m operating profit in 2016, USD26m loss in 4Q2016

Air Arabia revenue down 15% - financial highlights:

• Three months ended 31-Dec-2016:
• • Total revenue: AED814 million (USD221.6 million), -14.9%;
  • Operating profit (loss): (AED95 million) (USD25.9 million), compared to a profit of AED111 million (USD30.2 million) in p-c-p;
  • Net profit (loss): (AED33 million) (USD9.0 million), compared to a profit of AED59 million (USD16.1 million) in p-c-p;
  • Passengers: 2.1 million, +5.6%;
  • Passenger load factor: 77.7%, -0.2 ppt;
• 2016:
• • Total revenue: AED3778 million (USD1028 million), -1.3% year-on-year;
  • Operating profit: AED365 million (USD99.4 million), -35.3%;
  • Net profit: AED509 million (USD138.5 million), -4.1%;
  • Passengers: 8.5 million, +11.6%;
  • Passenger load factor: 81%, +2 ppts. [more - original PR]

*Based on the average conversion rate at AED1 = USD0.272199 for 4Q2016
*Based on the average conversion rate at AED1 = USD0.272198 for 2016