Air Arabia Q2 Net Up 31 Percent

 

Air Arabia Q2 Net Up 31 Percent

Air Arabia Q2 Net Up 31 Percent

UAE budget carrier Air Arabia’s quarterly net profit rose 31 percent as the airline boosted flights on little-served routes to India and the Gulf Arab region, lifting passenger numbers.

The airline said it had second quarter net attributable profit of AED65 million dirhams (USD$17.7 million) for the period ended June 30, up from AED49.6 million dirhams a year-ago.

Revenues rose to AED729.6 million dirhams, from AED592.2 million in the prior-year period.

“In the second quarter of this year, our proven ability to identify and capitalise on underserved routes continued to reap enormous benefits,” the airline’s chairman, Sheikh Abdullah bin Mohammad al-Thani, said in a statement.

The carrier added new routes to Taif in Saudi Arabia and Salalah in Oman in the first half of the year and increased flights to cities in India, Saudi Arabia and Kuwait.

The airline handled 1.3 million passengers in the quarter, up 15 percent over the same period in 2011, it said. The average seat load factor stood at 85 percent, up 3 percent over last year.

Sharjah-based Air Arabia is the only low budget carrier operating out of the United Arab Emirates, home to Dubai government-owned Emirates and Abu Dhabi’s Etihad Airways.

Air Arabia also has hubs in Egypt and Morocco. It competes with other regional low cost carriers such as flydubai and Kuwait’s Jazeera Airways.

(Reuters)



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