Air Arabia posts $46mln in H1 loss

Air Arabia posts $46mln in H1 loss

The Sharjah-based low-cost operator recorded a first-half turnover of Dh1.021 billion, a drop of 53 per cent compared to Dh2.173 billion in the corresponding period last year.In a statement, Air Arabia said the first-half results were largely driven by the second quarter that witnessed the most severe impact of the epidemic on airline operation. "Regular flight schedule was affected by airport closures and suspension of flights. Operations during the second quarter relied mostly on repatriation, charter, and cargo flights. This resulted in lower revenues for the second quarter reaching Dh120 million and consequently impacting the second-quarter profitability to a net loss of Dh239 million," said the airline."Air Arabia took early measures to control overall cost and enhance cash position despite the challenges. These include deferred cost and capital expenditure, workforce