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Air Arabia Q2 Net Profit Rises 15%

Air Arabia Q2 Net Profit Rises 15%

The low-cost airline served over three million passengers during the first half of 2013

Budget airline Air Arabia, United Arab Emirates’ only publicly-listed carrier, reported an 15 per cent increase in second-quarter net profit on Monday, as it carried more passengers.

The Sharjah-based airline made a net profit of Dhs76 million ($20.7 million) for the second-quarter, compared with Dhs66 million in the corresponding period in 2012, the company said in an emailed statement.

Two analysts polled by Reuters forecasted a quarterly profit of Dhs82 million and Dhs67.2 million each for the quarter.

Revenue for the quarter rose by 17 per cent to Dhs797 million, Air Arabia said.

The airline served over three million passengers during the first half of 2013, a 16 per cent increase compared with 2.6 million passengers during the same period last year.

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