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FINANCIAL NEWS
UAE’s Air Arabia Q2 profit up 2% to USD13.8m
05 Aug 2011
(MENAFN) Air Arabia’s Chairman, Sheikh Abdullah Bin Mohammad Al Thani, said that in spite of the region’s political turmoil and the increase in fuel prices, in the second quarter, the carrier’s profit grew 2 percent reaching USD13.8 million from 2010’s same quarter, reported Emirates 24/7.
Al Thani added that in the quarter, Middle East’s first and biggest low-cost airline’s passengers’ volume rose 5 percent from 2010’s 1,108,310 passengers to 1,161,944 passengers.
He also said that from USD132 million in last year’s second quarter, Air Arabia’s turnover surged twenty two percent reaching USD161 million.
It is worth noting that global fuel prices increased an average of 46 percent in 2011’s second quarter compared with the second quarter in 2010.
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