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Article: Company Watch - Air Arabia.
- Article from:
- AirGuide Business
- Article date:
- August 17, 2009
CopyrightCOPYRIGHT 2009 Pyramid Media Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New York (AirGuideBusiness - Company Watch) Aug 16, 2009
Air Arabia posted an AED89.7 million (USD 24.4 million) second-quarter profit, up 10 percent from the AED81.5 million reported in the year-ago period, on a 6 percent rise in revenue to AED458.4 million. "We are pleased with the positive results achieved today amidst the ambiguity of global economy performance and the impact of swine flu on air travel trends. Air Arabia's continuous profitability and growth figures demonstrate the fundamental strength of the airline's dynamic business model," CEO Adel Ali said. The LCC said costs declined 8 percent to AED382 million and operating profit rose 10.5 percent to ...