Joe Breitfeller
Nov 2, 20202 min
Airfinance evaluated the performance of 100 airlines worldwide using operational and financial parameters such as total revenue, net income, EBITDAR margins, fixed charges, liquidity, leverage, fleet size and fleet age, with Air Arabia securing the top position.
Today (November 2, 2020), Air Arabia, the Middle East and North Africa region’s first and largest LCC, announced that for the first time they have ranked first on Airfinance Journal’s list of the top 100 global airlines. Airfinance ranks carriers based on a set of operational and financial benchmarks including total revenue, net income, EBITDAR margins, fixed expenses, liquidity, leverage ratio, fleet size and average aircraft age. The evaluation included last twelve month (LTM) parameters from March 31, 2019 through March 31, 2020 and Air Arabia ranked ahead of 99 global airlines after scoring the highest average across all metrics. In Monday’s announcement, Air Arabia Group’s Chief Executive Officer, Adel Al Ali, said,
“The Airfinance report is purely based on financial and performance data and the fact that Air Arabia managed this year to rank first in the world underlines the strong fundamentals of our organization, and our commitment to operational excellence. The various parameters evaluated demonstrate that, despite the challenging operating environment for the global aviation industry, we have comprehensive strengths that enable us to create long-term value for all our customers and stakeholders.”
Air Arabia operates a mix of scheduled, charter and cargo flights across their hubs in the UAE, Morocco and Egypt. In July 2020, Air Arabia launched Air Arabia Abu Dhabi, the UAE capital’s first low-cost carrier (LCC) in cooperation with Etihad Airways. Air Arabia Abu Dhabi’s services complement those of Etihad Airways from Abu Dhabi by catering to the growing LCC market in the region.
Source: Air Arabia