Air Arabia Q2 profit dips 24% on flat passenger numbers - The National

Air Arabia Q2 profit dips 24% on flat passenger numbers  - The National:

Air Arabia, the UAE's only publicly-listed airline, posted a 24 per cent decline in second-quarter net profit as the number of passengers carried and seats filled remained flat.

Net profit in the three months ending June 30 reached Dh120 million compared with Dh158m a year earlier, it said in a statement on Thursday. EFG Hermes and Sico Bahrain had forecast the Sharjah-based low-cost airline would post a profit of Dh148.4m and Dh85.98m respectively. Quarterly revenues increased four per cent year-on-year to Dh938m.

"Trading conditions continue to be influenced by the regional geopolitical and economic challenges," Sheikh Abdullah Al Thani, chairman of Air Arabia, said.