As further testimony to its successful business model, Air Arabia, the first and largest low-cost carrier in the Middle East and North Africa, has been recognised as the “Best Managed Company in the Middle East – Airlines and Aviation,” by participants of Euromoney’s annual survey.

The “Best Managed Companies in the Middle East” survey, which is distributed among bank analysts and equity investors, asks respondents to give their opinions on which Middle Eastern companies they believe to be the best and why. As part of the 2010 survey, respondents were also asked to nominate the top three Middle Eastern companies in order of quality in a range of sectors.

“We are extremely pleased to be chosen by leading analysts and investors as the best managed company in the airline and aviation sector,” said Adel Ali, Board Member and Group Chief Executive Officer, Air Arabia. “This prestigious accolade is further evidence of the strength and success of Air Arabia’s robust business model. We thank Euromoney for recognising our efforts, and look forward to continuing to take our airline to new heights.”

The recent accolade follows a host of awards in 2009 and 2010, including being named the “Middle East’s leading low-cost airline” for the third consecutive year at the World Travel Awards, and the prestigious “Best Low-Cost Airline” award at the Business Traveller Awards Middle East.

In addition, Air Arabia recently set a new world record when one of its A320 aircraft flew 30,000 flight hours in six years. The airline, which received special recognition from Airbus, was awarded for its operational efficiency, as well as setting the new world record.

Air Arabia currently provides service to 65 routes across Europe, the Middle East, Africa and Asia from its hubs in the UAE, Morocco and Egypt. The airline aims to expand the size of its existing fleet with the upcoming delivery of its 44 aircraft on order.