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Air Arabia's Q1 net income up 20%
- United Arab Emirates: Tuesday, May 14 - 2013 at 04:53
Air Arabia has reported a 20% rise in net profit for the three months ending March 31, 2013, to Dhs59m, compared with Dhs49m in the corresponding quarter a year ago. The low-cost carrier said its turnover during the quarter grew 22% to Dhs722m from Dhs594m in the same period of 2012. Air Arabia said last month it carried a record 1.4 million passengers in first quarter, the highest number of passengers the Sharjah-based airline handled in one quarter since inception in 2003. The first quarter also saw Air Arabia taking delivery of two aircraft from Airbus. The airline will receive four more A320 aircraft this year, as part of a growth plan to further expand its geographic network and grow the size of its fleet by 2016.
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