UAE's Air Arabia posts 6% rise in Q4 net profit

  • Share via facebook
  • Tweet this
  • Bookmark and Share

UAE budget carrier Air Arabia reported a 6 percent rise in fourth quarter net profit on Saturday, helped by a rise in passenger numbers but still short of forecasts.

Air Arabia earned a net profit of AED83m ($22.6m), up from AED77.5m in the same period last year, the airline said in a statement.

The earnings fell short of estimates of analysts polled by Reuters who expected an average profit of AED91.7m.

Revenues for the quarter rose 18 percent year-on-year to AED755m, Air Arabia said.

In 2012, Air Arabia carried more than 5.3 million passengers, compared with 4.7 million in 2011.

Sharjah-based Air Arabia is the only publicly listed carrier operating out of the UAE, which is also home to Dubai government-owned Emirates and Abu Dhabi's Etihad Airways.

It competes with other budget carriers like flydubai and Kuwait's Jazeera Airways in challenging market conditions in the region. Bahrain Air announced plans to shut down on Tuesday, blaming political unrest in Bahrain and continuing debt woes.

Air Arabia also has hubs in Egypt and Morocco.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Stronger together? Reviewing Emirates' historic partnership with Qantas

Stronger together? Reviewing Emirates' historic partnership with Qantas

One year after the “historic” Emirates-Qantas partnership deal...

Air Arabia to use tried and tested model in Ras Al Khaimah

Air Arabia to use tried and tested model in Ras Al Khaimah

Air Arabia signed an agreement last month to become the official...

Is Saudi Arabia ready for take off?

Is Saudi Arabia ready for take off?

Saudi Arabia has announced two new airlines and $30bn worth of...

1
Most Discussed
  • 54
    Three UAE women attacked with hammer at London hotel

    I really feel that Arabian Business.Com should now close this comments page. This should be all about sympathy for the families not what it is/has turned... more

    Wednesday, 16 April 2014 1:06 PM - Adrienne
  • 51
    Why Dubai isn't a plastic city

    What is definitely not a plastic city. The Arabs have a culture dating back to several centuries. 50 years back Dubai was just a fishing village. Today... more

    Tuesday, 8 April 2014 3:49 PM - P. MADHUSUDAN
  • 48
    DMCC boss Ahmed Bin Sulayem entertains Robert Mugabe in Dubai

    @fga ''However today, simply because he decided to dispossess a few white farmers of their land and redistribute to the poorer indigenous blacks'' more

    Sunday, 13 April 2014 3:02 PM - Matt Williams