Air Arabia announces strong Q2 results

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By TESTCustomwebLP TESTCustomwebLP August 12, 2014 20:20

Air Arabia announces strong Q2 results

Air Arabia has reported its Q2 2014 results in which the Sharjah-based carrier reported a second-quarter net profit of AED173 million ($47 million), which is an increase of more than double compared to the AED76 million profit recorded during Q2 2013.

Air Arabia also reported turnover of AED915 million, which was up 15% on 2013’s second quarter of AED797 million.

Second-quarter passenger numbers were up 8% to 1.6 million year-on-year. Load factor was reported as 84%.

Air Arabia chairman Sheikh Abdullah Bin Mohammad Al Thani said: “Air Arabia’s outstanding start to 2014 has accelerated in the second quarter as the investments made into our operational capacity and cost management have continued to deliver results.”

Air Arabia also reported an improvement in its first-half results, with a net profit during the period of AED248 million compared with AED134 million for the year-ago period, an increase of 85%.

Turnover for the first half was AED1.74 bn, up 15% compared with AED1.52 bn for the same period in 2013. The airline carried more than 3.36 million passengers, up 11% year-on-year and another record for the company. Load factor for the first half was 83%, up 1% on the year-ago period.

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By TESTCustomwebLP TESTCustomwebLP August 12, 2014 20:20