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FINANCIAL NEWS
UAE’s Air Arabia reports 12 percent rise in profit
18 Feb 2014
(MENAFN) Net profit of budget carrier Air Arabia increased 12 percent in the fourth quarter of 2013 as passenger traffic significantly grew, according to Arabian Business.
The company’s net profit was estimated at USD25.6 million in the fourth quarter of 2013 compared to USD22.86 million in the same quarter in 2012.
The airline carried more than 1.5 million travelers during the same period, registering a 15 percent growth from the fourth quarter of 2012.
Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia, said: “Air Arabia has enjoyed consistent and sustained growth since launching operations back in October 2003, and our performance in the year of our tenth anniversary was no exception.”
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