Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier, has secured the third spot in a list of top 50 global airlines compiled by UK-based ‘Airfinance Journal’. ‘The Airline Top 50’ report evaluated the performance of 137 airlines based on a set of operational and financial parameters, including Total Revenue, Net Income, Passenger Yield, Liquidity, and Leverage.
Amongst the parameters evaluated in the report, Air Arabia was ranked the World’s second in terms of fixed charge cover and fourth in terms of liquidity. According to the report, Air Arabia’s high liquidity rate of 49.2% significantly improves the airline’s ability to divert surplus cash towards supporting business expansion and, alternatively, cushion the business against market headwinds.
Commenting on the report and ranking, Adel Al Ali, Group Chief Executive Officer of Air Arabia, said: “We are proud to be ranked among the top three airlines in the world. The report confirms Air Arabia’s solid financial standing and its all-around excellence in maintaining high operational standards.”
“The airline top 50 2016” is the fifth annual supplement published by the Airfinance Journal and is backed by data supplied by the Airline Analyst. The report surveyed 137 carriers around the world. The report’s methodology and ranking was based on a set of financial and operational metrics.
Air Arabia currently operates flights from five hubs to over 120 routes in 33 countries across the Middle East, Africa, Asia, and Europe.