Air Arabia

UAE's Air Arabia Q2 profit rises 2 %

UAE budget carrier Air Arabia performed well during the second quarter despite challenging period and soaring tickets price regime. The firm reported 2 per cent increase in its Q2 net profit beating the projections of analysts.

The carrier earned a net profit of $13.9 million as compared to 50 million dirhams during the corresponding period last year. Air Arabia’s Q2 revenue rose 22 percent to 592 million dirhams from 485 million dirhams.

Air Arabia's rating revised to 'hold' by HC Research

Air-Arabia001Sharjah-based low-cost carrier Air Arabia was cut to "hold" from "buy" by the HC Research, which cited the yield pressures because of excess capacity and competition at a time of rising fuel costs

Air Arabia continues its growth story, posts net profit of $123 million

Air ArabiaAir Arabia, a leading airline in UAE, announced its financial figures for the year 2009,

New carrier launched by Air Arabia

Middle East's Air Arabia, the first budget airline, commenced its flights in 2003.

In order to expand its operations, this airline is going into a joint venture with a new budget carrier in Egypt.

This joint venture, Air Arabia Egypt, shall operate flights to Europe, the Middle East and Africa and Egypt; and shall be the third center of activity for Air Arabia after UAE and Morocco.

Travco Group based in Egypt owns 60 per cent of shares in the joint venture. The startup capital shall be $50 million.

Air Arabia's airport hotel on schedule

Low-cost carrier Air Arabia has revealed that the construction of its 300-room three-star Centro Hotel located at Sharjah airport will be finalized by coming April.

Air Arabia Q2 net profit rises 10% to Dh90 million

Air Arabia, the Middle East and North Africa's first and largest low-cost carrier (LCC), has recorded a 10% decent growth in its net profit for the second quarter of 2009. Company's net profit figure stood at Dh 90 million as compared to Dh 82 million for the corresponding period in fiscal 2008.

For the first half, the airline has registered Dh193 million profit, up 21% over Dh160 million for the first half of the previous year. During the first half of 2009, the company clocked a turnover of Dh 922 million, up 6% from Dh871million for the first half of 2008.