UAE-based low-cost carrier (LCC) Air Arabia reported a 2016 net profit of AED509 million ($138.6 million), down 4% compared to AED530 million for 2015. Turnover for the full year was steady at AED3.8 billion. The LCC carried 8.4 million passengers, up 12% from 2015. Load factor was static at 79%. This was the second year running the company’s net profits have fallen. The Sharjah-headquartered airline, which has other hubs at Amman, Alexandria, Casablanca and Ras Al Khaimah, said it ...

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