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FINANCIAL NEWS
Air Arabia reports USD17.7m profit in Q2
07 Aug 2012
(MENAFN) Sharjah-based Air Arabia, the largest low-cost carrier in the Middle East, reported 31 percent increase in quarterly profits, Reuters reported.
The carrier said it made USD17.7 million net profit during the second quarter, up from USD13.5 million a year earlier.
The company attributed the higher results to increased flight frequencies to under-served routes in India and the Gulf Arab region, lifting passenger numbers.
Quarterly revenues increased to USD215.7 million from USD161.18 million a year earlier, the airline added.
Passenger traffic in the quarter rose 15 percent to 1.3 million passengers compared to a year earlier, the company said. The average seat load factor stood at 85 percent, up 3 percent over last year, Air Arabia added.
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