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UAE'S Air Arabia Q2 net profit rises 15 pct
August 5, 2013 / 12:32 PM / 4 years ago

UAE'S Air Arabia Q2 net profit rises 15 pct

DUBAI, Aug 5 (Reuters) - Budget airline Air Arabia , United Arab Emirates’ only publicly-listed carrier, reported an 15 percent increase in second-quarter net profit on Monday, as it carried more passengers.

The Sharjah-based airline made a net profit of 76 million dirhams ($20.7 million) for the second-quarter, compared with 66 million dirhams in the corresponding period in 2012, the company said in an emailed statement.

Two analysts polled by Reuters forecasted a quarterly profit of 82 million dirhams and 67.2 million dirhams each for the quarter.

Revenue for the quarter rose by 17 percent to 797 million dirhams, Air Arabia said.

The airline served over 3 million passengers during the first half of 2013, a 16 percent increase compared with 2.6 million passengers during the same period last year. ($1 = 3.6730 UAE dirhams) (Reporting by Praveen Menon; Editing by Dinesh Nair)

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