Air Arabia, a leading low-cost carrier, has posted a net profit of Dh51 million ($13.88 million) for the second quarter of 2011, an increase of 2% compared to Dh50 million in the corresponding period in 2010.
The also posted a turnover of Dh592 million, an increase of 22% compared to Dh485 million in the same period of 2010.
The airline served 1,161,944 passengers in the second quarter of 2011, an increase of 5% compared to 1,108,310 passengers in the same period last year.
“Air Arabia has consistently shown its resilience to dynamic market conditions,” said Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia.
“The second quarter of this year has seen fuel price averaging to 46% increase in the market fuel bill compared to same quarter of correspondent year. The political turmoil of the region has continued with further escalation in several countries. Despite the challenging market conditions, Air Arabia has achieved steady growth and solid profits for the second quarter, thanks to our focused business model and appealing product.”
“We remain confident about the outlook of low cost travel in the region amidst market ambiguity, continuous challenging conditions and rise trend in fuel cost,” Sheikh Abdullah Bin Mohammad Al Thani added.