Air Arabia profits drop 24% in Q2
Air Arabia reported Thursday a 24% decline in its net profit for Q2 of 2018 driven by lower margins and higher fuel costs. The carrier recorded Dh120m in profits in the quarter compared to Dh158.5m in the same quarter of 2017. The earnings put profits in the first half of this year at Dh230m, down 12% year-on-year. The carrier said the earnings came amid “economic pressure that airlines witnessed in Q2 of this year, which was driven by lower yield margins, higher fuel prices, and seasonality shift in traffic that the market has experienced.” The decline in profits came even as revenues inched up, with revenues for Q2 up nearly 4% year-on-year to reach Dh938m. Revenues for the first 6 months of this year reached Dh1.8b, a 5.8% increase over the same period last year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-08-10/unaligned/air-arabia-profits-drop-24-in-q2
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Air Arabia profits drop 24% in Q2
Air Arabia reported Thursday a 24% decline in its net profit for Q2 of 2018 driven by lower margins and higher fuel costs. The carrier recorded Dh120m in profits in the quarter compared to Dh158.5m in the same quarter of 2017. The earnings put profits in the first half of this year at Dh230m, down 12% year-on-year. The carrier said the earnings came amid “economic pressure that airlines witnessed in Q2 of this year, which was driven by lower yield margins, higher fuel prices, and seasonality shift in traffic that the market has experienced.” The decline in profits came even as revenues inched up, with revenues for Q2 up nearly 4% year-on-year to reach Dh938m. Revenues for the first 6 months of this year reached Dh1.8b, a 5.8% increase over the same period last year. <br/>
