Air Arabia Q3 profit falls over 26%

Air Arabia, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, on Tuesday reported more than 26 per cent decline in its third quarter net profit, compared with the same period last year.

The Sharjah-based budget airline said its financial results for the three months ending September 30, 2011, demonstrating sustainable profitability during the third quarter of this year.

Air Arabia’s net profit for the three months ending September 30, 2011, which was in line with analyst forecasts, stood at Dh100 million, compared to Dh136 million in the corresponding period in 2010.

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