FINANCIAL NEWS

UAE’s Air Arabia posts 11% rise in Q1 profit

07 May 2012

(MENAFN) Air Arabia’s chairman, Sheikh Abdullah bin Mohammad Al Thani, stated that the carrier’s net profit grew 11 percent during the first quarter to USD13.39 million, compared with USD12 million in 2011’s same period, reported Emirates 24/7.

Sheikh Abdullah said that turnover jumped 21 percent from last year’s USD139.6 million, reaching USD169 million.

He added that during the period, the Sharjah-based airline’s total operating fleet reached 30 planes; moreover, the company received its ninth 44 A320 aircraft from Airbus.

It is worth noting that the number of passengers Air Arabia served during the period rose 7 percent to 1,230,807 passengers from to 1,153,807 passengers in the same quarter a year earlier.

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