Air Arabia profit down 10% to Dh103m
Air Arabia reported Sunday Dh103m in net profit for Q1 of 2017, marking a 10% drop over the Dh114m recorded in the same period in 2016. Air Arabia said it posted a Q1 turnover of Dh810m, a 14% decline over Q1 in 2016. The airline said the decline came amid a drop in yield margins across the industry over the first 3 months of the year. The profits for Q1, though lower year-on-year, are a turnaround from the Dh38.6m in losses recorded by the carrier in Q4 2016. The loss at the time came well below market expectations. Air Arabia attributed the results to challenges in the global aviation market. Abdullah Al Thani, chairman of Air Arabia, said the carrier continued to see strong passenger demand, and that he remained confident “of the growth prospects of the low cost travel segment in the region”. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-05-08/unaligned/air-arabia-profit-down-10-to-dh103m
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Air Arabia profit down 10% to Dh103m
Air Arabia reported Sunday Dh103m in net profit for Q1 of 2017, marking a 10% drop over the Dh114m recorded in the same period in 2016. Air Arabia said it posted a Q1 turnover of Dh810m, a 14% decline over Q1 in 2016. The airline said the decline came amid a drop in yield margins across the industry over the first 3 months of the year. The profits for Q1, though lower year-on-year, are a turnaround from the Dh38.6m in losses recorded by the carrier in Q4 2016. The loss at the time came well below market expectations. Air Arabia attributed the results to challenges in the global aviation market. Abdullah Al Thani, chairman of Air Arabia, said the carrier continued to see strong passenger demand, and that he remained confident “of the growth prospects of the low cost travel segment in the region”. <br/>
