Sharjah-based low-cost carrier Air Arabia reported a net profit of AED 158m ($43m) in the second quarter of 2017, an increase of 21 per cent compared to the net profit it reported for the same period last year.

This brings the carrier’s net profit for the first half of 2017 to AED261m, some 7 per cent higher than for the same period in 2016.

The firm’s revenue for the second quarter of 2017 reached AED906m, compared to AED894m in the corresponding period last year. Revenue for the first half of the year reached AED 1.72bn.

In a released statement, Abdullah Bin Mohammad al-Thani, chairman of Air Arabia, attributed the company’s strong financial performance to the carrier’s “cost control measures, operational efficiency… combined with its momentum growth.”

Air Arabia maintains a fleet of 48 A320 aircraft, including two it received in the first half of 2017.

The firm, listed with the Dubai Financial Market, said it added 12 new routes during the first six months of 2017 from its five operating hubs in the UAE, Morocco, Egypt and Jordan.

There are plans to expand Sharjah International airport, the airline’s main hub.

In March, US-based Parsons won a project management services contract for the planning, design, construction, and commissioning of the airport’s planned expansion project.

It is understood the contract award in March follows the approval of the AED1.5bn ($400m) budget for the airport’s expansion.