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FINANCIAL NEWS
Air Arabia net profit down 13.6 percent in Q2
06 Aug 2015
(MENAFN) UAE’s low-cost carrier Air Arabia announced logging a drop of its second quarter net profit, with a decline of 13.6 percent, released data showed.
The carrier, which is UAE’s only publicly-listed airline, posted a net profit of USD39.8 million in the April-June period of 2015, the cargo said in a statement.
The Sharjah-based airline released data showed that the second-quarter figure marked a drop from USD46.07 million registered in the same quarter of last year.
Meanwhile, Air Arabia posted a revenue decline in the cited period, which reached USD234.12 million from USD249.04 million a year before.
However, the figure was better-than-expected by analysts, which projected the airline to make a profit of only USD36.39 million during the period.
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