Air Arabia profits rise 32%
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Air Arabia has said that is first-quarter net profit increased by 32% year-on-year, on the back of a 26% rise in passenger traffic, Gulf News reported. The Sharjah-based low-cost carrier achieved a net profit of AED103 million (US$28 million) for the first three months of 2009, compared with AED78 million during the same period of 2008.
It recorded a sales turnover of AED463 million for the quarter, an increase of 21%, after carrying 951,000 passengers, up from 757,000 in the same period last year. Average seat load factor was an impressive 81%.
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