<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; DIRECTION: ltr; LINE-HEIGHT: 150%; unicode-bidi: embed; TEXT-ALIGN: justify"><SPAN style="FONT-FAMILY: Arial">Air Arabia (PSJC), the first and largest low-cost carrier (LCC) in the Middle East and <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:place w:st="on">North Africa</st1:place>, today released its financial results for the first quarter of the year ending <st1:date w:st="on" Month="3" Day="31" Year="2008">March 31, 2008</st1:date>. The airline’s net profit for the first quarter of 2008 stood at AED 78 million, an increase of 81 per cent compared to AED 43 million for the first quarter of 2007.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></SPAN></P><br/><P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; DIRECTION: ltr; LINE-HEIGHT: 150%; unicode-bidi: embed; TEXT-ALIGN: justify"><SPAN style="FONT-FAMILY: Arial"><o:p> </o:p></SPAN></P><br/><P class=MsoNormal style="MARGIN: 0cm 0cm 0pt; DIRECTION: ltr; LINE-HEIGHT: 150%; unicode-bidi: embed; TEXT-ALIGN: justify"><SPAN style="FONT-FAMILY: Arial">During the first quarter of 2008, the company posted a turnover of AED 383 million, up 59 per cent compared to AED 241 million during the first quarter of 2007. The airline served 757,000 passengers in the first quarter of 2008, an increase of 31 per cent compared to 577,000 passengers during the same period in 2007. Average seat factor ­– passengers carried as a proportion of available seats – stood at 85 per cent for the first quarter of 2008, up 2 per cent compared to 83 per cent in first quarter of 2007.<o:p></o:p></SPAN></P>
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