Air Arabia profits slightly up over full year

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Middle Eastern budget carrier Air Arabia has posted a Dhs435 million ($118 million) net profit for 2013, a rise of 2%, although the figure for the fourth quarter was up by 12%.

The Sharjah-based airline's full-year turnover increased by 14% to Dhs3.2 billion.

Air Arabia's passenger numbers were up by 15% to 6.1 million and its load factor reached 80%.

"The network expansion strategy which has guided the airline for a decade continued to reap rewards in 2013, helping us to once again deliver a strong set of results," says chairman Sheikh Abdullah Bin Mohammad Al Thani.

Air Arabia expanded its network with another eight destinations last year, among them Baghdad and Yerevan. It operates a fleet of 35 Airbus A320s.