Air Arabia first-quarter profit up 16 percent as passenger numbers improve - Reuters

Air Arabia first-quarter profit up 16 percent as passenger numbers improve - Reuters:

Air Arabia on Sunday posted a 16 percent jump in first-quarter profit, citing a rise in passenger numbers.


The Middle East budget airline reported a full-year loss for 2018 after booking impairments mainly attributable to its exposure to collapsed private equity firm Abraaj.

Air Arabia made a net profit of 128 million dirhams ($34.9 million) in the three months to March 31 on revenue up 17 percent to 1 billion dirhams, it said in a statement.