Air Arabia net profit down 12% in 2011

Air Arabia revenue up 17% - financial highlights:

• Three months ended 31-Dec-2011:
  • Total revenue: USD173.8 million, +17.2%;
  • Net profit: USD21.5 million, +6.9%;
  • Passenger numbers: 1.2 million, -2.5%;
  • Load factor: 79%, -6 ppts;
• 12 months ended 31-Dec-2011:
  • Total revenue: USD662.8 million, +16.4%;
  • Costs:
    • Fuel: USD278.3 million, +45.4%;
  • Gross profit: USD89.8 million, +5.8%;
  • EBITDAR: USD122.8 million, -6.0%;
  • Net profit: USD74.6 million, -11.5%;
  • Passenger numbers: 4.7 million, +4.4%;
  • Load factor: 82%, -1 ppt;
  • Fleet: 29 aircraft;
  • Total assets: USD1937 million, +11.7%;
  • Bank balances and cash: USD366.1 million, -27.1%;
  • Total liabilities: USD507.7 million, +87.8%. [more - original PR]

*Based on the conversion rate at USD1 = AED3.67315