Air Arabia, a leading low-cost carrier in the UAE, has registered a solid revenue growth for the first nine months  which hit Dh2.87 billion ($781 million) , up two per cent over the same period last year.

The Sharjah-based airline said it continued to achieve strong financial performance and solid growth flying 5.7 million passengers between January and September.

The passenger numbers increased by 11 per cent year-on-year in the first nine months and the average seat load factor – or passengers carried as a percentage of available seats – for the period stood at an impressive 79 per cent, said the budget carrier in its statement.

Air Arabia's global destination network has now reached 115 routes with the addition of 21 new routes in the first nine months of 2015, as the airline continued to implement its expansion strategy, including the opening of a fifth international hub in Jordan earlier this year, it added.

The net profit for the nine-month period, however, witnessed a slight decline of five per cent which fell to Dh472 million ($128 million) compared to the previous year.

Also tthe net profit in the third quarter fell six per cent to hit Dh235 million from last year's Dh251 million.

Commenting on the results, chairman Sheikh Abdullah Bin Mohammed Al Thani, said: "Despite increased pressure on yield margins, spare capacity in the market and protracted political uncertainty within the region, Air Arabia continues to deliver strong profits and solid business growth while serving ever-increasing numbers of passengers."

"The company continued its expansion mode throughout 2015 and we have launched 21 new routes this year, in addition to a multiple award-winning products and services," he stated.

Air Arabia said its revenues for the three months ending September 30, 2015, increased by six percent to stand at Dh1.1 billion, compared with Dh1 billion last year.

The budget carrier also carried more than two million passengers in the third quarter, up 18 per cent over the same period last year, while the average seat load factor was 80 per cent, it added.

On the future outlook, Sheikh Abdullah said: "We remain focused on expanding operations and entering new markets while consolidating our leading position in existing markets as well as delivering an innovative and appealing product offering to our customers every day."-TradeArabia News Service