Air Arabia registers Dhs66m net profit in Q2

Air Arabia, announced on Tuesday its financial results for the three months ending June 30, 2012, demonstrating the continued strength of the airline’s business model. For the three months ending June 30, 2012, Air Arabia reported a net profit of Dhs66 million, an increase of 31 per cent compared to Dhs51 million in the corresponding period in 2011. The carrier’s turnover for the second quarter of 2012 stood at Dhs729 million, an increase of 23 per cent compared to Dhs592 million reported in the same period of 2011. The airline welcomed onboard 1.3 million passengers in the second quarter of 2012, an increase of 15 per cent compared to the same period last year. Air Arabia’s average seat load factor for the three months ending June 30, 2012, stood at an impressive 85 per cent, up 3 per cent on the same period last year. “Air Arabia’s expansion strategy and efficient operating model continue to be reflected in the airline’s financial performance, amidst continues political challenges that the region is witnessing” said Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia. “In the second quarter of this year, our proven ability to identify and capitalise on underserved served routes continued to reap enormous benefits.” From gulftoday