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FINANCIAL NEWS
UAE’s Air Arabia Q4 net profit up 7%
26 Feb 2012
(MENAFN) Air Arabia (PJSC) said that in 2011’s fourth quarter, net profit rose 7 percent to USD21.42 million from USD20.03 million in 2010’s same period, reported Emirates 24/7.
The Middle East and North Africa’s first and largest low-cost carrier added that turnover jumped 17 percent to USD173.64 million, from USD148.28 million a year earlier.
Moreover, the number of passengers who used the carrier in the quarter was up 2 percent from 2010’s same period, reaching 1,180,402 passengers.
It is worth noting that Air Arabia’s net profit for the full year reached USD74.57 million, whereas turnover increased 16 percent from 2010 to USD653 million.
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