Coronavirus incurs $ 46 million in losses to Air Arabia
Air Arabia said on Monday it had turned into a loss of 239 million dirhams ($ 46 million) in the second quarter of the year after the collapse of travel business due to the Covid-19 pandemic.
According to calculations made by Reuters and based on a statement issued by the company today, the only UAE-listed airline carried 80,000 passengers between April and June. This comes in comparison with 2.59 million passengers in the same period last year, when it made a profit of 210 million dirhams.
The low-cost airline, which flies from hubs in the UAE, Egypt and Morocco, said it had attracted 120 million dirhams in revenue. This comes compared to 1.14 billion dirhams in the same period a year ago.
“The significant impact of the Covid-19 epidemic on air traffic crystallized during the second quarter as a result of the closure of borders and the suspension of flights in all major markets,” said Chairman of the Board, Sheikh Abdullah bin Muhammad Al Thani.
Aviation is one of the sectors hardest hit during the Covid-19 crisis, which has forced airlines to reduce the number of workers and seek government aid.