Air Arabia third-quarter profit soars 30%

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United Arab Emirates budget carrier Air Arabia continues to turn in a strong financial performance, with a 30% surge in third-quarter net profit.

The net figure reached Dhs214 million ($58 million) for the three months to 30 September.

Sharjah-based Air Arabia's third-quarter revenue was up by 69% to Dhs625 million, as passenger numbers increased by one-third to 979,000. Load factor for the period was 87%.

Chief executive Adel Ali says the figures are a "clear indication" that its passengers "have confidence in our efforts".

Air Arabia's net profit over the first nine months of this year increased by 34% to Dhs374 million following a rise in revenue of 68% to nearly Dhs1.5 billion.

The carrier operates 16 Airbus A320s but has dozens more on order.

Early next year the airline plans to establish a new division, Air Arabia Maroc, in Casablanca through a partnership with a local carrier.