![](\"https:\/\/www.arabianbusiness.com\/public\/images\/2020\/10\/13\/Air-Arabia-new-2.jpg\")
<\/p>\n\nSharjah-based low cost carrier makes AED20m profit in final quarter of 2020 despite ‘biggest challenge in history’<\/p>\n
<\/p>\n
Sharjah-based Air Arabia, the largest low cost carrier in the Middle East and North Africa, on Wednesday, said it made a net loss of AED192 million ($56.2 million) in 2020 as the global aviation industry continued to struggle with the impact of the coronavirus pandemic.\n<\/p>\n
The airline\u2019s turnover for the full year was AED1.85 billion while it served a total of 4.4 million passengers from all five hubs.\n<\/p>\n
![](\"https:\/\/www.arabianbusiness.com\/public\/styles\/square_178\/public\/images\/2019\/05\/21\/ihg-tourists.jpg?itok=Yaf5eoU9\")
<\/p>\n
New research says 46% of big spending tourists from the region want to travel abroad this year\n<\/p>\n
Air Arabia also reported a net profit of AED20 million for Q4, 90 percent lower than Q4 2019, as the airline posted a turnover of AED536 million, 53 percent below the coresponding period in 2019.\n<\/p>\n
The carrier said early measures taken to control overall cost while ensuring business continuity enabled it to register a profitable fourth quarter despite the Covid-19 pandemic.\n<\/p>\n
Sheikh Abdullah Bin Mohamed Al Thani, chairman of Air Arabia, said: \u201cAir Arabia\u2019s ability to record a profitable fourth quarter despite the continued impact of the Covid-19 pandemic, is a testament to the robust business model it operates.\u00a0\n<\/p>\n