Are Arab airlines coping

Air Arabia, the first and largest low-cost carrier in the Middle East and North Africa, announced its financial results for the three months ending June 30, 2011, demonstrating steady growth in profit, revenue and passenger traffic. Air Arabia’s net profit for the three months ending June 30, 2011, rose to AED 51 million, an increase of 2 per cent compared to AED 50 million in the corresponding period in 2010. Air Arabia posted a turnover of AED 592 million, an increase of 22 per cent compared to AED 485 million in the same period of 2010. The airline served 1,161,944 passengers in the second quarter of 2011, an increase of 5 per cent compared to 1,108,310 passengers in the same period last year. Air Arabia has consistently shown its resilience to dynamic market conditions,” said Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia. “The second quarter of this year has seen fuel price averaging to 46% increase in the market fuel bill compared to same quarter of correspondent year.” Air Arabia recently announced that it has welcomed on-board its 20 millionth passenger, demonstrating the enormous appeal of the first and largest low-cost carrier in the Middle East and North Africa.