Air Arabia Q2 net profit rises 15%

Air Arabia, UAE’s only publicly-listed carrier, reported an 15 percent increase in second-quarter net profit, as it carried more passengers.
The Sharjah-based airline made a net profit of AED76 million ($20.7 million) for the second-quarter, compared with AED66 million in the corresponding period in 2012, the company said.
Two analysts polled by Reuters forecasted a quarterly profit of AED82 million and AED67.2 million each for the quarter.
Revenue for the quarter rose by 17 percent to AED797 million, Air Arabia said.
The airline served over 3 million passengers during the first half of 2013, a 16 percent increase compared with 2.6 million passengers during the same period last year.