Air Arabia sees net profits rise by 32% in Q109

Air Arabia saw net profit increase by 32 percent in Q1 this year compared with the same time last year, according to a statement issued by the low-cost carrier on Saturday.

Profit hit AED103m in the first three months of the year up from AED78m in Q1 2008.

Turnover also increased by 21 percent, rising from AED383m to AED463m, reported the Sharjah-based airline, which is the largest budget carrier in the Middle east and North Africa.

The results demonstrated the strength of the low-cost business model, which was proving still effective under extremely challenging economic times for the aviation industry, said Adel Ali, board Member and Group CEO.

“While Air Arabia is not insulated from the fallout of the global financial crisis, we are extremely pleased to have been able to continue our own positive momentum in the first quarter of 2009, as today's announcement demonstrates, he said.

"The attractiveness of value for money service remains greater than ever, as travellers everywhere increasingly see the appeal of low-cost services,” Ali added.

Recently, the carrier officially launched Air Arabia Maroc, a joint venture company, which operates from the carrier's second hub in Casablanca.

It also recently introduced to two new destinations to its routes; Goa, in India and Athens in Greece - increasing its network to 46 destinations across the Middle East, North Africa, Europe, South and Central Asia.

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