Air Arabia records 81 per cent rise in first-quarter profits

13 May 2008
Air Arabia has posted net profits of AED78m ($21m) for the first quarter of 2008, an increase of 81 per cent year on the previous year.

The Sharjah-based low-cost airline’s figures compare with profits of AED43m for the first quarter of 2007. The company’s AED383m turnover is up 59 per cent from AED241m in the same period last year.

Passenger figures have also risen significantly, up 31 per cent to 757,000 from 577,000 in the first quarter of last year. Accordingly, passenger load factors - passengers carried as a proportion of available seats - are up 2 per cent year on year to 85 per cent.

The airline expanded significantly in the first quarter, purchasing two new Airbus A320 aircraft to increase its fleet to 13 planes. It also added two new destinations in India to its network, which now stands at 39.

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