DHAKA: Air Arabia, the Sharjah-based low cost carrier, reported a 27 percent jump in first quarter net profit to Dh75 million on the back of improving jet fuel prices.

‘Profit continues to benefit from a more conducive fuel environment,’ stated Will Horton, senior analyst at CAPA – Centre for Aviation.

Revenue for the three months ending March 31, 2013, increased 13.5 percent to Dh827 million, compared to Dh722 million in last year’s first quarter.

Highlighting the airline’s performance in the first quarter, Air Arabia stated that the result reflect its ‘solid financials, strong business model and broad customer base’.

The UAE’s only publicly-listed airline, Air Arabia carried 1.63 million passengers in the first quarter.

The 12 percent increase in passengers, up from 1.45 million in last year’s first quarter, comes on the back of newly launched routes from Sharjah to Cairo in Egypt, Antalya in Turkey, and Shymkent in Kazakhstan.

Average load factor for the first three months stood at 81.5 percent, reports gulfnews.com.

BDST: 1511 HRS, MAY 13, 2014