Air Arabia feels the pinch as profits drop again

The Sharjah headquartered airline which now has operations in Morocco and Egypt with Jordan still to follow said profits had reduced to $14 million, attributing the decline to higher fuel costs and yield pressure.

A spokesman for the airline said the period had been characterised by lower yields worldwide and that its figures   were in line with global industry performance.

Turnover for the three-month period to 30 June increased by 6% as passenger numbers rose by 11% to 1.1 million. Load factor was higher at 82%.

This takes the first half performance to $27.6 million. Last year the airline recorded annual profits of 123 million dollars.