Air Arabia in €1m MRO agreement with Irish firm
Low-cost carrier Air Arabia yesterday signed a €1 million (Dh5m) deal with Irish company Botany Weaving for the supply of interior fabrics over the next seven years.
The agreement was signed in Dubai at the MRO Middle East show, part of Aviation Week. Botany Weaving is a specialist manufacturer of seat covers, curtains and carpets for the transport industry and has an annual turnover of €10m.
The Irish firm, which produces fabrics for major players in the region and around the world, will be supplying to Sharjah-based Air Arabia for the first time.
"We have signed 15 deals in the past six months, of which five have been in the Gulf," said Myles Hobbs, Botany Weaving's Export Sales Manager.
"We are bullish about the Gulf and expect to see some more deals in the region. We are seeing a huge surge in demand from low-cost carriers. These airlines negotiate hard on price but do not compromise on quality. That is why we as a company have become so important as we supply quality products at affordable prices."
Air Arabia made net profits of Dh452 million in 2009, maintaining the strong level of performance it achieved the previous year when it recorded profits of Dh454m, excluding exceptional items.
The company reported turnover of Dh2 billion for the full year 2009, a decline of 4.5 per cent from the Dh2.066bn recorded in 2008. It carried 4.1 million passengers in 2009, an increase of 14.2 per cent compared with 2008's total of 3.6 million.
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