Air Arabia Profits Jump Despite Economic Crisis

Sharjah, Aug 8 (IANS): Air Arabia, the United Arab Emirates (UAE) based low-cost carrier, has reported a 21 percent increase in profits in the first half of 2009, the WAM news agency reported Saturday.

The airline announced its financial results for the period ending June 30, 2009, reporting a profit of $52 million, an increase of 21 percent compared to the same period in 2008. The company registered a turnover of $251 million during the period.

It served 1,953 million passengers during this period; a 20 percent increase 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 percent.

"Tough economic conditions continue to impact the global aviation sector. We are pleased with the positive results achieved amidst the ambiguity of global economy performance and the impact of swine flu on air travel trends," said Adel Ali, board member and group chief executive officer of Air Arabia.

"Air Arabia's continuous profitability demonstrates the fundamental strength of the airline's dynamic business model," Ali added.


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