Sharjah-based low-cost carrier (LCC) Air Arabia posted a first-quarter net profit of AED114 million ($31 million), up 34% compared to a AED85 million net profit in the year-ago quarter. First-quarter revenue was AED946 million, up 7% year-over-year (YOY). The carrier said the results exceeded analysts’ expectations. The LCC carried 2.1 million passengers in the first quarter, traditionally the quietest period of the year, up 17% YOY. Load factor was steady at 81%. Air Arabia ...

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