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Air Arabia forecasts financial improvement from 1Q2010

29-Oct-2009 11:21 AM

Air Arabia CEO, Adel Ali, stated the carrier forecasts 3Q2009 financial results will be “satisfactory”, with improvements in earnings expected to commence from 1Q2010 (Reuters, 28-Oct-2009). Mr Ali dismissed threats of an ongoing impact of H1N1 flu on passenger traffic and hopes an increase in passenger traffic will “drive the yields up” (Arabian Supply Chain, 28-Oct-2009).

Air Arabia:The global recession has meant that a lot of carriers have shifted capacity into the Middle East...internationally you find the likes of British Airways returning to Saudi, Lufthansa into Qatar and Indian carriers also into the region. I believe we've got to the bottom of it and I expect improvement at the beginning of the first quarter. We are optimistic that the numbers will be fine...will be satisfactory,” Adel Ali, CEO. Source: Reuters, 28-Oct-2009.