By: Mahmoud Gamal
Dubai – Mubasher: Air Arabia’s stock rose in Tuesday’s mid-session, following the announcement of the company's first-half financials.
The stock rose 6.5% to AED 1.15 - its highest level in six months.
The stock generated AED 54.57 million from the exchange of 48.32 million shares through 395 transactions.
The airline reported profits of AED 158 million in Q2-17, up 21% from AED 131 million in Q2-16. Profits reached AED 261 million in the first half of 2017, an increase of 7% year-on-year.
The low-cost carrier posted profits that beat estimates of AED 155 million, financial analyst Mohamed Kamal said.
Translated by: Julian Nabil
