Air Arabia reports mixed earnings results in 3Q2011

Air Arabia revenue up 22% - financial highlights for three months ended 30-Sep-2011:

• Revenue: USD188.1 million, +21.6% year-on-year;
• Cost of sales: USD147.2 million, +18.7%;
• Gross profit: USD40.9 million, +33.4%;
• Net profit: USD27.0 million, -26.5%;
• Total assets: USD1874 million, +8.1% when compared to period ended 31-Dec-2010;
• Bank balances and cash: USD351.5 million, -30.0% when compared to period ended 31-Dec-2010;
• Total liabilities: USD464.0 million, +71.6% when compared to period ended 31-Dec-2010. [more - original PR]

*Based on the conversion rate at USD1 = AED3.67312