Top Performing Companies study of global airlines conducted by Aviation Week
In yet another international recognition of Air Arabia’s successful business model, the carrier was ranked first on the Top Performing Companies (TPC) chart as the best low-cost carrier (LCC) globally, in a study conducted by Aviation Week magazine, the largest information and services provider to the global aviation industry.
The 2009 study of TPC by Aviation Week ranked publicly-traded airlines that are best positioned to weather the current global recession and recent volatility in fuel prices. The study placed significant emphasis on financial fitness, and the airlines were ranked for liquidity, financial health, earnings performance, fuel cost management and asset utilisation.
“It is a great honour for Air Arabia to be ranked as the best LCC globally, and demonstrates the industry’s confidence in the airline’s strong business fundamentals,” said Adel Ali, Group Chief Executive Officer of Air Arabia. “The recognition is especially significant as it underscores Air Arabia’s financial fitness in these challenging times for global economies and the aviation sector in particular.
“With the establishment of its new hub in Morocco, Air Arabia has embarked upon yet another growth phase. As we further expand our network making international air travel in the region more affordable, we will continue to offer compelling value-for-money travel options for passengers in the Middle East, North Africa, Central Asia, Indian subcontinent and Europe,” Ali added.
The study highlighted that Arabia is a pioneer in a region that has been not only LCC-averse, but also widebody-focused. The carrier has built up a significant network flying to destinations that will not sustain legacy carriers. Air Arabia is also moving to establish franchises to extend its reach through Air Arabia (Maroc) in Morocco. The new hub provides Air Arabia access to a much wider European market, thanks to Morocco’s liberalized aviation agreement with the European Union.
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