Air Arabia posts first-quarter net profit despite Covid-19 pandemic
- Date: 09-May-2021
- Source: The National
- Sector:Financial Markets
- Country:Middle East
Air Arabia posts first-quarter net profit despite Covid-19 pandemic
Middle East budget carrier Air Arabia recorded a 52 per cent drop in first quarter profit as revenue fell amid tight restrictions on air travel due to the Covid-19 pandemic.
Net profit fell to Dh34 million in the first three months of 2021, compared to Dh71m in the same period last year, Air Arabia said in a statement on Sunday. First quarter revenue declined 37 per cent year-on-year to Dh572m.
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