Air Arabia, the Sharjah-based low cost carrier, has been ranked number three on Airfinance journal's list of top 50 global airlines.
'The Airline Top 50' report evaluated the performance of some 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.
On the report and ranking, Air Arabia Group chief executive officer Adel al-Ali 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 some 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 more than 120 routes in as many as 33 countries across the Middle East, Africa, Asia, and Europe.
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