UAE’s Air Arabia Q3 net profit rises 26 percent

Sharjah-based budget carrier Air Arabia made a net profit of $80.9 million in the three months to Sept. 30, the company said in a statement. (Photo courtesy: Air Arabia)

Budget carrier Air Arabia, the UAE’s only publicly-listed airline, reported a 26 percent rise in third-quarter net profit on Sunday.

The Sharjah-based firm made a net profit of $80.9 million (Dh297 million ) in the three months to Sept. 30, the company said in a statement.

This compares with a profit of Dh235 million in the corresponding period of 2015.

Air Arabia, which had reported declining profits in four of the preceding five quarters, carried more than 2.27 million passengers in the third quarter of 2016, an increase of 14 percent year on year.

The airline’s third-quarter revenue was Dh1.12 billion, “in line” with the revenue generated in the same period a year earlier,  it said without elaborating.
 

SHOW MORE
Last Update: Wednesday, 20 May 2020 KSA 13:59 - GMT 10:59
Top