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11-Nov-2010 11:34 AM

Air Arabia continues to report quarterly profits in 3Q2010

Air Arabia revenue up 4% - financial highlights for the three months ended 30-Sep-2010:

  • Revenue: USD154.7 million, +3.8% year-on-year;
  • Cost of sales: USD121.8 million, +9.1%;
  • Gross profit: USD32.9 million, -12.2%;
  • Net profit: USD37.0 million, -5.6%;
  • Passenger numbers: 1.1 million, +14%;
  • Average seat factor: 84%, +8.5 ppts;
  • Revenue per passenger: USD141.3, -11%;
  • Cost per passenger: USD108.9, -9%;
  • Cost per passenger excl fuel: USD64.5, -17%;
  • Total assets: USD1621 million, -1.9% when compared with the period ended 31-Dc-2009;
  • Bank balances and cash: USD590.1 million, +8.6% when compared with the period ended 31-Dc-2009;
  • Total liabilities: USD180.5 million, +9.9% when compared with the period ended 31-Dc-2009. [more]

*Based on the conversion rate at USD1 = AED3.67265

Air Arabia: “Air Arabia is pleased to announce such positive financial performance despite continued challenging market conditions. Air Arabia continues to post sustained quarterly profits with a high seat load factor and rising passenger traffic, demonstrating the strength of Air Arabia’s business model and long-term expansion strategy,” Sheikh Abdullah Bin Mohammed Al Thani, Chairman. Source: Air Arabia, 10-Nov-2010.

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