Air Arabia, the first and largest low-cost carrier (LCC) in the Middle East and North Africa, today released its financial results for the third quarter of 2008. The company's net profit for the three months ending September 30, 2008, stood at AED 214 million, an increase of 30 per cent compared to AED 165 million during the third quarter of 2007. For the third quarter of 2008, the company posted a turnover of AED 625 million, up 69 per cent compared to AED 369 million during the third quarter of last year, according to a report of the UAE news agency "WAM". During the third quarter of 2008, the airline served 978,794 passengers, an increase of 34 per cent compared to 729,745 passengers during the same period in 2007. For the third quarter, Air Arabia's average seat load factor - or passengers carried as a percentage of available seats - remained at an extremely impressive 87 per cent.
