Air Arabia profit slips 6pc in 2015
Sharjah-based budget carrier Air Arabia said on Sunday its 2015 net profit fell six percent to 531 million dirhams ($144.69 million) although turnover rose slightly.
The Middle East's first and largest low-cost airline said its turnover was 3.8 billion dirhams ($1.04 billion) in 2015, three percent up on the previous year, while passenger numbers rose 12 percent to 7.6 million.
In the fourth quarter, net profit was 13 percent lower than in 2014, standing at 59 million dirhams ($16.08 million).
"The impact of low oil prices continues to have its effect on the wider global economy, while pressure on yields and geo-political uncertainty continued to weigh on the aviation industry," Air Arabia chairman Sheikh Abdullah bin Mohammad al-Thani said in a statement.
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