Air Arabia profit jumps 42 per cent in first quarter

Budget carrier Air Arabia, the only publicly-listed airline in the UAE, reported a 42.2 per cent rise in first-quarter net profit today, beating analysts’ forecasts.

The Sharjah-based firm made a net profit of Dh111.1 million in the three months to March 31, the company said in a statement. This compares with a profit of Dh78.1m in the corresponding period of 2015.

Three analysts polled by Reuters had on average forecast the airline would make a first-quarter profit of Dh88.8m.

The airline’s first-quarter revenue was Dh945.8m, versus Dh886m a year earlier.