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.

Total revenue for the second quarter stood Dh458 million.

The airline served 1.95 million passengers during the first half of 2009, up 20% compared 1.6 million passengers during the same period last year. Air Arabia's average seat load factor - or passengers carried as a percentage of available seats - for the first six month of 2009 stood at 80 per cent.

The sources said that the second three month period of 2009 saw significant development at Air Arabia. The airline announced the introduction of Air Arabia (Maroc), a joint venture company, which functions from the carrier's second hub in Casablanca, Morocco and currently serves nine European cities.

Air Arabia also commenced operations to Goa, India and Athens Greece, from its main hub at Sharjah International Airport. Air Arabia Holidays unveiled a range of low-cost holiday packages from Sharjah to various destinations in Asia, the Middle East, Europe and North Africa.