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Air Arabia posts first ever drop in Q3 profit
Sharjah-based budget airline Air Arabia said its third quarter net profits dropped 9 percent due to...
November 14, 2009 9:28 by kippreport
Sharjah-based budget airline Air Arabia said its third quarter net profits dropped 9 percent to AED144 million due to the effects of the H1N1 virus on the aviation industry and the reduced number of travellers during the holy month of Ramadan.
“Passenger traffic in the third quarter of 2009 was impacted by the seasonality of the Holy month (Ramadan), concerns related to the H1N1 virus and the continuing consequences of the global continuous financial downturn,” it said in a statement.