Dubai – Mubasher: Air Arabia swung to losses in the fourth quarter of 2016, according to a bourse statement.
The company suffered losses worth AED 33.23 million ($9.05 million) in Q4-16, against profits of AED 58.59 million ($15.95 million) in Q4-15.
In 2016, profits declined 4.1% to AED 508.77 million from AED 530.59 million in 2015.
Revenues fell 1.3% to AED 3.78 billion in 2016 from AED 3.83 billion in 2015.
