Sharjah-based budget carrier Air Arabia said it foresaw an increase in the number of aircraft operating in the UAE and has plans to add four to five new aircrafts every year into its fleet.

In an interview with CNBC Arabiya, Air Arabia chief executive officer Adel Ali stressed that the fleet expansion is on track as per its five-year plan.

The airline would press four new planes into service this year besides opening a major station for the company in Casablanca, Morocco for transit passengers to Europe and Africa.

The company's current fleet strength, which is at 18, will later soar to 22 this year. The company also plans to induct 44 Airbus planes from mid-2010.

Ali said the airline was pleased with the flight bookings for the months of January and February.

According to Ali, the budget airline industry will perform well this year due to the global economic situation and the trend of cost-cutting.

These factors supplement the positive impact of lower fuel prices and the diverse range of nationalities living in the UAE leading to a continued increase in the number of passengers travelling.

The company's financial results will be announced during the coming weeks. Air Arabia is expected to announce good results for 2008, exceeding the previous year’s in terms of operations and passenger numbers.-TradeArabia News Service