United Arab Emirates: November 2, 2020: Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), has been ranked number one on Airfinance Journal’s list of top 100 global airlines.
Airfinance evaluated the performance of 100 airlines worldwide, based on a set of operational and financial parameters, including total revenue, net income, Ebtidar margins, fixed charges, liquidity, leverage, fleet size, and average age of fleet, with Air Arabia coming top, for the first time.
The top 100 airlines list measured the financial and performance metrics of all 100 airlines’ last twelve-month (LTM) figures from 31 March 2019 to 31 March 2020. Air Arabia’s top overall ranking ahead of 99 other global airline companies came after scoring highest average across all variable metrics that the report took into consideration.
Adel Al Ali, Group Chief Executive Officer, Air Arabia, 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 organsiation, 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”
Airfinance Journal ‘The Airline Analyst’ is considered the most comprehensive and detailed picture of airlines’ financial and operational data available in the market.