Net profit at Air Arabia fell by 51 per cent in the first quarter due to lower ticket prices and higher fuel costs, the carrier said. The Sharjah-based airline made a profit of Dh50 million (US$13.62m), compared with Dh103m in the first quarter last year before the arrival of flydubai, which has quickly expanded its service to 18 low-cost flights from Dubai International Airport.
"We are glad with the positive results Air Arabia posted in the first quarter of this year," said Adel Ali, the group chief executive of Air Arabia, which includes a budget operation based in Morocco. It also plans to launch an airline based in Egypt. "The lingering impact of the global financial crisis and the rise in fuel cost continues to affect the profitability of airlines worldwide as a result of continuous dilution in yields versus market overcapacity," Mr Ali said.
"Nevertheless, Air Arabia posted appealing profits for this quarter and maintained its positive growth in passenger numbers." The airline served 1.03 million passengers in the first quarter compared with 951,000 passengers carried in the same period last year. Its aircraft occupancy levels averaged 80 per cent, in line with last year. Kareem Murad, a transport analyst at Shuaa Capital in Dubai, said the results were below Shuaa's expectations of a Dh66m profit.
The impact of new competition from flydubai was not significant, Mr Murad said, because Air Arabia was still many times larger than the upstart budget carrier from Dubai. Air Arabia operates 21 Airbus A320 aircraft and serves 60 destinations. "It is not competition from flydubai but the aviation business in general, with the industry seeing very tight yields," he said. The global airline industry as a whole is expected to lose several billion dollars this year, he said, "so a profitable result is definitely positive for them".
The carrier's newest venture, Air Arabia Egypt, was originally expected to be launched in late March from Alexandria. That venture will be undertaken with the Travco Group. A revised launch date has not been given. The new unit "could become very profitable to Air Arabia's bottom line", Mr Murad said. igale@thenational.ae
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
EA%20Sports%20FC%2024
%3Cp%3EDeveloper%3A%20EA%20Vancouver%2C%20EA%20Romania%3Cbr%3EPublisher%3A%20EA%20Sports%3Cbr%3EConsoles%3A%20Nintendo%20Switch%2C%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20One%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
Copa del Rey
Semi-final, first leg
Barcelona 1 (Malcom 57')
Real Madrid (Vazquez 6')
Second leg, February 27
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Reading List
Practitioners of mindful eating recommend the following books to get you started:
Savor: Mindful Eating, Mindful Life by Thich Nhat Hanh and Dr Lilian Cheung
How to Eat by Thich Nhat Hanh
The Mindful Diet by Dr Ruth Wolever
Mindful Eating by Dr Jan Bays
How to Raise a Mindful Eaterby Maryann Jacobsen
THE BIO
Favourite book: ‘Purpose Driven Life’ by Rick Warren
Favourite travel destination: Switzerland
Hobbies: Travelling and following motivational speeches and speakers
Favourite place in UAE: Dubai Museum
SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500
RESULT
Arsenal 1 Chelsea 2
Arsenal: Aubameyang (13')
Chelsea: Jorginho (83'), Abraham (87')
The Disaster Artist
Director: James Franco
Starring: James Franco, Dave Franco, Seth Rogan
Four stars
Company%C2%A0profile
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Story%20behind%20the%20UAE%20flag
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Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
The Library: A Catalogue of Wonders
Stuart Kells, Counterpoint Press
Dr Amal Khalid Alias revealed a recent case of a woman with daughters, who specifically wanted a boy.
A semen analysis of the father showed abnormal sperm so the couple required IVF.
Out of 21 eggs collected, six were unused leaving 15 suitable for IVF.
A specific procedure was used, called intracytoplasmic sperm injection where a single sperm cell is inserted into the egg.
On day three of the process, 14 embryos were biopsied for gender selection.
The next day, a pre-implantation genetic report revealed four normal male embryos, three female and seven abnormal samples.
Day five of the treatment saw two male embryos transferred to the patient.
The woman recorded a positive pregnancy test two weeks later.
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
The biog
Name: Marie Byrne
Nationality: Irish
Favourite film: The Shawshank Redemption
Book: Seagull by Jonathan Livingston
Life lesson: A person is not old until regret takes the place of their dreams
MATCH INFO
Brescia 1 (Skrinia og, 76)
Inter Milan 2 (Martinez 33, Lukaku 63)
'Joker'
Directed by: Todd Phillips
Starring: Joaquin Phoenix
Rating: Five out of five stars
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Elvis
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