Sharjah, Air Arabia stated that the net amount of profits made during the first half of year 2008 has reached AED 160 million, which amount to a 39% increase in comparison to a net profit of AED 115 million for the first six months of last year.

According to a report by the company, the net profits during the second quarter of this year have reached AED 82 million, which amount to a 14% increase when compared to the AED 71.7 million for the second quarter of year 2007.

The net revenue of the company in the first half of year 2008 has reached AED 871 million, an increase which amounts to 70% in comparison to AED 513 million for the duration of year 2007.

Air Arabia has served 1.6 million clients in the first half of year 2008, with an increase which reached 33% in comparison to 1.2 million clients for the same period in year 2007.

The number of passengers that traveled with Air Arabia reached 866272 during the second quarter of year 2008; a 34% increase, in comparison to around 646 thousand in the second quarter of year 2007.

The seat occupancy rate has increased by 3.6% to reach 86% in the first half of year 2008 in comparison the same period in year 2007.

Sheikh Abdullah b. Mohammed II, Chairman of the Board of Directors of Air Arabia highlighted that these results portray the company’s ability to continue growth steadily and to achieve great revenues for the shareholders and investors of the company.

He also added that Air Arabia will honour its obligations to provide safety and comfort for its passengers and it will also add value to what the client pays, in addition to further expansion of the network serving destinations in the biggest number of major cities in the Middle East, North Africa and South/Central Asia.

Source: Press Release (Air Arabia)