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 Arabias 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.
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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