Profits up 55% at Air Arabia

Air Arabia has posted a 2012 net profit of AED425m ($116m) – some 55% higher than the AED274m reported in 2011. Profits jumped 6% during the fourth quarter to AED83m, with sales of AED755m. Air Arabia carried over 5.3 million passengers in 2012, up 13%. The carrier’s seat load factor stood at 82%. Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia: “As these results signify, Air Arabia continued to demonstrate its concerted efforts to enter into new markets and launch new ventures… The year 2012 saw Air Arabia expand its global network by entering new markets, taking more