Air Arabia reports strong double-digit profit growth in 1Q2016

Air Arabia revenue up 7% - financial highlights for three months ended 31-Mar-2016:

• Revenue: AED946 million (USD257.6 million), +6.8% year-on-year;
• Costs: AED815.6 million (USD222.0 million), +0.5%;
• Operating profit: AED130.2 million (USD35.4 million), +75%;
• Net profit: AED114 million (USD31.0 million), +34%;
• Passenger numbers: 2.1 million, +16.5%;
• Load factor: 1%, stable;
• Total assets: AED11,571 million (USD3150 million);
• Bank balances and cash: AED1584 million (USD431.1 million);
• Total liabilities: AED6893 million (USD1877 million). [more - original PR]

*Based on the average conversion rate at AED1 = USD0.272263