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FINANCIAL NEWS
UAE’s Air Arabia reports 55% surge in 2012 net income
17 Feb 2013
(MENAFN) UAE’s Air Arabia announced that its net income surged by 55 percent last year, reaching USD115.67 million, up from USD74.57 million in 2011, reported Emirates 24/7.
The carrier, whose shares are listed on the Dubai Financial Market, attributed the rise in 2012 net income to the launch of new routes, the addition of new planes and the introduction of wider product offerings and services.
Meanwhile, Air Arabia’s net profit in the fourth quarter rose by 6 percent to USD22.59 million, from USD21.23 million in the same period a year before.
Furthermore, Air Arabia’s full-year turnover jumped by 21 percent to USD789 million, from USD653 million a year before.
The Middle East’s biggest budget airline said that quarterly turnover climbed by 18 percent to USD205.49 million, compared with USD173.65 million.
Passenger traffic in 2012 increased by 13 percent to more than 5.3 million passengers compared with 4.7 million in 2011
It is worth noting that last year, Sharjah-based Air Arabia reported a seat load factor of 82 percent.
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