Air Arabia posts 12% Q4 profit
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Air Arabia announced its financial results for the fourth quarter (Q4) ended 31 December 2013. The airline’s net profit for Q4, stood at AED94 million, up 12% compared to AED 84 m reported in 2012.
The airline’s turnover was AED811 m, an increase of eight per cent compared to AED753 m reported for 2012. The airline carried over 1.5 m passengers in Q4, an increase of 15%.
Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia said: “We have enjoyed consistent and sustained growth since launching operations back in October 2003. The network expansion strategy has helped us to once again deliver a strong set of results”.
The airline added eight destinations in 2013, including Yerevan in Armenia; Lar and Mashhad in Iran; Baghdad in Iraq; Sialkot in Pakistan; Abha, Ha’il and Hofuf in Saudi Arabia. The airline took delivery of seven new A320 aircraft from Airbus in 2013, bringing its total fleet size to 35.
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