Air Arabia reports $5m profit for Q4 2020

RIYADH: Air Arabia has reported a SR20 million ($5 million) fourth-quarter profit for 2020 which, although modest, was considered good in light of the challenges facing the aviation sector due to the COVID-19 pandemic, the carrier’s CEO Adel Ali told AlSharq Bloomberg.

Ali said oil prices, the gradual return of flights due to a drop in travel restrictions and the reopening of borders during the last few months of 2020 had helped contribute to profits being achieved in the final quarter of last year.