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27-Feb-2012 1:19 PM

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

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