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By David Kaminski-Morrow2021-02-10T16:06:00+00:00
Air Arabia has managed to achieve a second profitable quarter for 2020, enabling it to contain its full-year net loss to Dhs192 million ($52 million).
It turned in a fourth-quarter surplus of Dhs20 million, despite a 53% reduction in revenues, having also been profitable in the first.
While the fourth-quarter figure is heavily down on the previous Dhs199 million profit, Air Arabia attributes the performance to “early measures” to control overall costs while maintaining business continuity.
Source: Air Arabia
Chairman Sheikh Abdullah bin Mohamed Al-Thani says the result is “testament to the robust business model”.
He says the Sharjah-based airlines is “confident” about the “fundamentals” of the air transport sector and its role in economic recovery.