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- Dubai 04:17 05:37 12:18 15:45 18:54 20:14
Budget carrier Air Arabia reported a 13.6 per cent fall in second-quarter net profit on Wednesday, beating analyst forecasts.
The Sharjah-based airline made a net profit of Dh146.2 million ($39.8 million) in the three months to June 30, the company said in a statement. This compares with a profit of Dh169.3 million in the corresponding period of 2014.
Three analysts surveyed by Reuters on average forecast Air Arabia would make second-quarter profit of Dh133.7 million.
Second-quarter revenue fell to Dh860.2 million from Dh915 million a year earlier.
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