UAE’s Air Arabia reports 26.6 pct third quarter profit increase

Budget carrier Air Arabia carried 2.33 million passengers, an increase of 3 percent in the third quarter. (File photo: AFP)

Air Arabia, the United Arab Emirates’ only publicly-listed airline, reported a 26.6 percent increase in third quarter profit on Sunday.

The low-cost airline said in an emailed statement it made a net profit of $102.4 million (376 million dirham) in the three months to Sept. 30, compared with 297 million dirham in the same year-ago period.

Revenue for the period increased 3.6 percent to 1.16 billion, and the number of passengers the airline carried increased 3 percent to 2.33 million.

Along with Sharjah, Air Arabia also has bases in Jordan, Egypt, Morocco, and the UAE’s Ras Al Khaimah.

Last Update: Wednesday, 20 May 2020 KSA 09:50 - GMT 06:50