DUBAI: Air Arabia, the UAE’s only publicly listed airline, posted a 29-percent jump in first-quarter net profit, beating analysts’ estimates.

The Sharjah-based low-cost carrier made a net profit of AED71.7 million ($19.5 million) in the three months to March 31, up from AED55.4 million a year earlier, it said in a bourse statement.

Two analysts polled by Reuters forecast Air Arabia’s profit at AED49.8 million and AED57.5 million.