Air Arabia profits on the up
05 Aug 2008
Dubai: Sharjah-based Air Arabia, the region's largest low-cost carrier, has reported a 14 per cent rise in Q2 earnings, to Dh82 million ($22.3 million). The rise in earnings have come on the back of a 34 per cent increase in passenger numbers for the April-June period.
''During a period of unprecedented challenges for the global aviation industry as a result of the continuously soaring oil price, we are extremely proud of these results,'' said Sheikh Abdullah bin Mohammed Al Thani, the chairman of Air Arabia.
According to chief executive officer, Adel Ali, profitability will likely grow by more than 14.7 per cent for the full year.
Air Arabia recently announced it had flown more than 10 million passengers since its launch in October 2003.
The carrier also introduced four new destinations in the first half of this year – including Kozhikode and New Delhi in India, Shiraz in Iran and Dhaka in Bangladesh. These additions took its total network to 41 destinations.
