Air Arabia, the UAE's only listed airline, reported a 45 per cent decline in first quarter profit due to the coronavirus pandemic that brought global air travel to a near-halt.
The Sharjah-based budget carrier made Dh71 million in the three months to March 31, compared to Dh128m a year earlier, it said in a statement on Thursday.
Revenue fell 12 per cent to Dh901m and quarterly passenger traffic declined 14 per cent to 2.4 million. The airline's seat load factor maintained a relatively high average of 83 per cent.
"Air Arabia witnessed a strong start of the year across the breadth of its operations. However, the impact of Covid-19 pandemic on the global aviation, which materialised in airport closures, travel restrictions and low travel demand, has affected the overall performance of the quarter," said the company's chairman Sheikh Abdullah Al Thani.
"Nonetheless, we are glad that Air Arabia still managed to deliver profitability and solid performance during the first quarter of this year," he added.
The International Air Transport Association, an industry lobby group representing some 290 airlines, forecasts global carriers could lose $314 billion (Dh1.15 trillion) in passenger revenue this year – a 55 per cent drop compared to 2019.
Gulf carriers, along with airlines around the world, have had to take unprecedented measures to survive, including cutting salaries and asking staff to take unpaid leave.
Air Arabia, which has about 2,000 employees in total, cut 57 jobs earlier this month.
"The management team has taken a series of business decisions to control our fixed and running costs during this period while supporting our business continuity," Sheikh Al Thani said. "All these measures are set in motion at a time when airlines around the world continue to battle the biggest challenge faced in the history of aviation."
The UAE had suspended all scheduled passenger flights in and out of the country on March 25 for two weeks. UAE airlines, including Emirates, Etihad, flydubai and Air Arabia, are operating a mix of repatriation flights and cargo services, and some have started introducing passenger flights this month.
Air Arabia's list of destinations available for a mix of cargo and passenger flights include Afghanistan, Bahrain, Egypt, India, Iran, Kuwait, Nepal, Oman and Sudan.
Last month, the carrier announced that Air Arabia Abu Dhabi, a joint venture between Etihad and Air Arabia, has received its Air Operating Certificate (AOC). Adel Ali, group chief executive of Air Arabia, said at the time that the UAE's fifth airline would start operating "as soon as skies and airports open and customers can fly again".
The biog
Mission to Seafarers is one of the largest port-based welfare operators in the world.
It provided services to around 200 ports across 50 countries.
They also provide port chaplains to help them deliver professional welfare services.
'The worst thing you can eat'
Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.
Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines:
Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.
Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.
Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.
Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.
Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
if you go
The flights
Etihad and Emirates fly direct from the UAE to Seoul from Dh3,775 return, including taxes
The package
Ski Safari offers a seven-night ski package to Korea, including five nights at the Dragon Valley Hotel in Yongpyong and two nights at Seoul CenterMark hotel, from £720 (Dh3,488) per person, including transfers, based on two travelling in January
The info
Visit www.gokorea.co.uk
Results
5pm: Maiden (PA) Dh80,000 (Turf) 2,200m; Winner: Gurm, Antonio Fresu (jockey), Eric Lemartinel (trainer)
5.30pm: Handicap (PA) Dh80,000 (T) 1,600m; Winner: Al Nafece, Al Muatasm Al Balushi, Mohammed Ramadan
6pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 1,200m; Winner: Ashton Tourettes, Adrie de Vries, Ibrahim Aseel
6.30pm: Arabian Triple Crown – Group 3 (PA) Dh300,000 (T) 2,200m; Winner: Ottoman, Adrie de Vries, Abdallah Al Hammadi
7pm: Liwa Oasis – Group 2 (PA) 300,000 (T) 1,400m; Winner: Hakeemat Muscat, Szczepan Mazur, Ibrahim Al Hadhrami
7.30pm: Handicap (TB) Dh80,000 (T) 1,600m; Winner: Ganbaru, Antonio Fresu, Musabah Al Muhairi
McLaren GT specs
Engine: 4-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
Torque: 630Nm
Price: Dh875,000
On sale: now
JUDAS AND THE BLACK MESSIAH
Directed by: Shaka King
Starring: Daniel Kaluuya, Lakeith Stanfield, Jesse Plemons
Four stars
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
'Tell the Machine Goodnight' by Katie Williams
Penguin Randomhouse
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
The biog
Favourite book: Men are from Mars Women are from Venus
Favourite travel destination: Ooty, a hill station in South India
Hobbies: Cooking. Biryani, pepper crab are her signature dishes
Favourite place in UAE: Marjan Island
UAE v IRELAND
All matches start at 10am, and will be played in Abu Dhabi
1st ODI, Friday, January 8
2nd ODI, Sunday, January 10
3rd ODI, Tuesday, January 12
4th ODI, Thursday, January 14
