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FINANCIAL NEWS
Air Arabia posts net profit of USD47m in Q2
10 Aug 2014
(MENAFN) UAE’s Air Arabia announced posting a net profit of USD47 million for the April-June period of the current year, KUNA reported.
The biggest low-cost carrier in MENA second-quarter’s profits showed an increase of 128 percent over the same period last year, in which profits hit USD20.69 million.
In the first half of 2014, which ended June 30, the airlines’ profits outperformed analysts’ forecasts, reaching USD67.51 million.
“We have seen an 11 percent increase in capacity in the first half of this year, yet we have sustained a high average seat factor and seen first half turnover increase by 15 per cent,” the cargo said.
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