Air Arabia Q2 net profit falls 14%, beats forecasts

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.