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FINANCIAL NEWS
UAE’s Air Arabia Q3 net profit down 26%
02 Nov 2011
(MENAFN) Air Arabia’s chairman, Sheikh Abdullah bin Mohammed Al Thani, said that during the third quarter, net profit fell 26 percent from 2010’s USD37 million to USD27 million, reported Emirates 24/7.
Al Thani added that during the period, the number of passengers who used the carrier grew by 5 percent from 2010’s 1.14 million to 1.19 million passengers.
He also said that the airline’s average seat load factor stood at 81 percent, moreover, during the July-September quarter, the company received two new A320 aircrafts from Airbus, where the latest Airbus A320 arrived on schedule from the Airbus facility in Toulouse, France, totaling the number of delivered A320 to 6 out of 44 ordered in 2007.
It is worth noting that Air Arabia’s turnover in the third quarter surged 22 percent to USD188 million, compared with USD154.6 million in last year’s same period.
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