Air Arabia's third-quarter profit drops 9 per cent

12 November 2013

Low-cost carrier Air Arabia says profit dropped because Ramadan fell in summer this year

Air Arabia registered a net profit of AED206m ($56m) over the third quarter of 2013, a drop of 9 per cent compared with the same period last year.

The drop is mainly driven by travel seasonality, as the month of Ramadan took place in July and August this year, the low-cost carrier said.

Turnover for the period reached AED854m, a year-on year increase of 6 per cent.

Air Arabia’s net profit for the first nine months of 2013 stood at AED341m, similar to the corresponding period in 2012. From January to October the company registered a turnover of AED2.3bn, an increase of 14 per cent year-on-year.

Air Arabia, which is listed on the Dubai Financial Market (DFM), recently took delivery of two A320 aircraft from Airbus and expects delivery of two more before the end of the year.

The airline also unveiled plans to introduce service to a few destinations in Saudi Arabia before the end of this year.



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