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Air Arabia announces 29 per cent profit hike


Low cost carrier beats analysts' forecasts in Q1

May 12, 2014 3:40 by

Air Arabia, the United Arab Emirates’ (UAE) only publicly listed airline, posted a 29-percent jump in first-quarter net profit on Monday, beating analysts’ estimates.

The Sharjah-based low-cost carrier made a net profit of 71.7 million dirhams ($19.5 million) in the three months to March 31, up from 55.4 million dirhams a year earlier, it said in a bourse statement.

Two analysts polled by Reuters forecast Air Arabia‘s profit at 49.8 million dirhams and 57.5 million dirhams. ($1 = 3.6730 UAE Dirhams)

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