Air Arabia Q2 net profit falls 14%, beats forecasts

Budget carrier Air Arabia , the United Arab Emirates’ only publicly-listed airline, reported a 13.6 per cent fall in second-quarter net profit on Wednesday, beating analyst forecasts.

The Sharjah-based airline made a net profit of Dhs 146.2m ($39.8m) in the three months to June 30, the company said in a statement. This compares with a profit of Dhs 169.3 m in the corresponding period of 2014.

Three analysts surveyed by Reuters on average forecast Air Arabia would make second-quarter profit of Dhs 133.7m.

Second-quarter revenue fell to Dhs 860.2m from Dhs 915.0m a year earlier.