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Reuters
Air Arabia, the United Arab Emirates’ only publicly-listed airline, reported 26.6 percent increase in third quarter profit on Sunday.
The low cost airline said in an emailed statement that it made a net profit of as much as AED376 million ($102.4 million) in the three months to September 30, compared with AED297 million that was recorded in the same period a year ago.
EFG Hermes and SICO Bahrain had earlier forecast that the airline, based in Sharjah, would post a profit of
as much as AED202.3 million and AED285.5 million, respectively.
Revenue for the period increased 3.6 percent to an amount of 1.16 billion, and the number of passengers that the airline carried increased 3 percent to 2.33 million.
Along with Sharjah, Air Arabia
also has bases in Jordan, Egypt,
Morocco, as well as in Ras Al
Khaimah.