Air Arabia recorded a 90% decrease in its fourth quarter of 2020 profits, to reach 20 million dirhams.
According to Arabiya Net, the company attributed the decline in its profits to the decline in the company's revenues by 53% to reach 535 million dirhams.
Thus, the company reduced the losses for the year 2020 to 192 million dirhams, compared to a profit of 990 million dirhams in 2019.
Air Arabia provided services to approximately 1.2 million passengers during the last quarter from its five operations centers.
and the early measures applied by Air Arabia to control costs and ensure the continuity of its business contributed to the recording of net profits during the last quarter, although the company's performance was affected by the epidemic that ravaged the global air travel movement in Mid-February, and its repercussions still continue on the aviation sector.
and during the full fiscal year ending on December 31, 2020, Air Arabia succeeded in reducing net losses to 192 million dirhams, despite the difficulties that the aviation sector faced as a result of the outbreak Epidemic during the year.
The carrier recorded revenues of 1.85 billion dirhams during the year 2020, and provided services to a total of 4.4 million passengers from its five operations centers.
The Chairman of the Board of Directors of Air Arabia, Sheikh Abdullah bin Mohammed Al Thani, said in a press statement that the success of (Air Arabia) to record net profits during the last quarter comes despite the repercussions The continuing epidemic in the sector confirms the strength of the company's business model.
