PHOTO
DUBAI, Aug 5 (Reuters) - Budget carrier Air Arabia, the United Arab Emirates' only publicly-listed airline, reported a 13.6 percent fall in second-quarter net profit on Wednesday, beating analyst forecasts.
The Sharjah-based airline made a net profit of 146.2 million dirhams ($39.8 million) in the three months to June 30, the company said in a statement. This compares with a profit of 169.3 million dirhams in the corresponding period of 2014.
Three analysts surveyed by Reuters on average forecast Air Arabia would make second-quarter profit of 133.7 million dirhams.
Second-quarter revenue fell to 860.2 million dirhams from 915.0 million dirhams a year earlier.
(Reporting by Nadia Saleem; editing by Matt Smith) ((nadia.saleem@thomsonreuters.com; +97143664256; Reuters Messaging: nadia.saleem.thomsonreuteres@reuters.net))
The Sharjah-based airline made a net profit of 146.2 million dirhams ($39.8 million) in the three months to June 30, the company said in a statement. This compares with a profit of 169.3 million dirhams in the corresponding period of 2014.
Three analysts surveyed by Reuters on average forecast Air Arabia would make second-quarter profit of 133.7 million dirhams.
Second-quarter revenue fell to 860.2 million dirhams from 915.0 million dirhams a year earlier.
(Reporting by Nadia Saleem; editing by Matt Smith) ((nadia.saleem@thomsonreuters.com; +97143664256; Reuters Messaging: nadia.saleem.thomsonreuteres@reuters.net))
