Air Arabia, the Middle East’s biggest low-cost airline, said full-year net profit plunged 31.5 percent as rising fuel costs put pressure on margins.
Net profit for the twelve months to December 31, 2010 fell to AED309.56m from AED452m a year earlier, the Sharjah-based carrier said in an emailed statement on Monday.
Revenue for the year was AED2.08bn, a rise of 5.5 percent on the same period a year earlier.
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