UAE Air Arabia flying to Kazakhstan reported profit increase

ABU DHABI. March 19. KAZINFORM - The Airline of the United Arab Emirates named Air Arabia, based in the emirate of Sharjah, according to the annual shareholders' meeting reported an increase in profits by seven percent.

As the press service of "Air Arabia" informs, the general meeting of shareholders approved the report of the auditors for the fiscal year ended December 31, 2012. During the 12 months of the previous year "Air Arabia" net profit reached 425 million UAE dirham (about 115 million U.S. dollars).

Shareholders' meeting has also approved the balance sheet and profit and loss accounts of the company for the reporting period. The total turnover of "Air Arabia" in 2012 was 2.9 billion UAE Dirham, which is 21 percent above the rate in 2011.

"Air Arabia" is the first and largest low-cost carrier in the Middle East and North Africa, based in the emirate of Sharjah. Emirati carrier operates flights from the UAE to Almaty and Astana.