DUBAI Aug 9 United Arab Emirates-based budget
carrier Air Arabia reported on Saturday that its
second-quarter net profit more than doubled, beating analyst
forecasts, as passengers numbers increased and the airline
The airline said it has a second quarter net profit of 173
million dirhams ($47.1 million) for the quarter ended June 30,
up from 76 million dirhams in the corresponding period in 2013.
Analysts polled by Reuters had forecast profit of 123.1
million dirhams for the period.
Revenue for the quarter rose 15 percent to 915 million
dirhams, it said in a statement.
The airline served over 1.6 million passengers in the
quarter, an increase of 8 percent year-on-year.
Sharjah-based Air Arabia is the only publicly listed carrier
operating out of the United Arab Emirates, home to Dubai
government-owned Emirates and Abu Dhabi's Etihad
($1 = 3.6730 United Arab Emirates Dirhams)
(Reporting by Praveen Menon; Editing by Alison Williams)