Air Arabia Net Profit Soars To Dh376m
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Khaleej Times: Air Arabia announced its financial results for the year 2007. The company achieved a net profit of Dh376 million for the financial year ending December 31, 2007, as against a net profit of Dh101 million in 2006 — an increase of 272 per cent. The airline could have an important role to play in the kingdom’s developing tourist industry.
The carrier posted a turnover of Dh1.283 billion in 2007 — up 71.3 per cent — compared to Dh749.16 million in 2006. Passenger average load factor — passengers carried as a proportion of available seats — stood at 86 per cent.
Overall, a total of 2.7 million passengers chose to fly with Air Arabia in 2007.
This is an increase of 53.2 per cent compared to 1.76 million passengers in 2006.
For the fourth-quarter of 2007, Air Arabia posted a net profit of Dh 89.52 million, up 174 per cent compared to Dh 32.65 million during the fourth quarter of last year. The carrier posted a turnover of Dh349.3 million — up 62.3 per cent — compared to Dh 215.2 million in same period of 2006. During the fourth quarter of 2007, the airline served 745,000 passengers, an increase of 49.8 per cent compared to 497,000 passengers during the same period in 2006. Commenting on the results, Shaikh Abdullah bin Mohammed Al Thani, Chairman of Air Arabia, said: "The year 2007 saw Air Arabia achieve success in the low-cost carrier segment, a market we introduced to the Middle East just four years ago. From our successful initial public offering, to orders for aircraft acquisition, to the launch of new destinations and new hubs across the region, 2007 was truly a landmark year for the Air Arabia."
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Best Western opens first hotel in Saudi capital
www.hotelcircleasia.com. Best Western International has launched its first hotel, the 86-room Best Western Orchid Hotel, in Riyadh, the capital of the Kingdom of Saudi Arabia.
(06/08/2012)
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SAUDI ARABIAN MOTOR FEDERATION ANNOUNCES
The Saudi Arabian Motor Federation (SAMF) has now finalised the dates and route format and will run the FIA-sanctioned Ha’il Desert Challenge in the north-central region of the Kingdom from Mar (17/02/2012)
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