Air Arabia first half profit rise but underlying concern over yield
Sharjah headquartered Air Arabia has generated a 3.5% increase in first-half net profit to $67 million despite a drop in its second-quarter figures.
The airline’s revenues for the six months to 30 June were up by 5.5%, while costs increased by 3.5% . It served 4.1 million passengers a 14% rise in the first half with a load factor of 79%.
In a statement the airline said that second-quarter performance was affected by the timing of Ramadan and an excess of capacity in the market, the carrier states.
Air Arabia said its net profit in the second quarter declined by 14% despite a 4% rise in revenues