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Air Arabia LLC, the first international low-fares airline in Sri Lanka, recorded exceptional second year results at their Annual Board Meeting. After declaring break-even financial results in its first year of operations, Air Arabia has soared to greater heights after announcing a profit in 2005.

Air Arabia's Chairman, Sheikh Abdullah bin Mohammed Al Thani said, "Air Arabia has revolutionised the travel industry in this region and our financial results and operating performance are proof of this, with our 2005 results showing a profit of USD 8.7 million. We have brought air travel into the reach of millions across the Middle East, North Africa and the Indian Subcontinent and will continue to offer our customers what they want; affordable fares to many more destinations."

Air Arabia CEO Adel Ali said, "Our competitive strength is clearly demonstrated by these spectacular results, despite major challenges faced by the aviation industry over the last year including continued rising fuel prices.

We will introduce further innovative initiatives this year to drive our business forward whilst controlling our cost base ruthlessly.

Air Arabia now has the size, scale and frequency to truly address the needs of travellers in this region and beyond, and we are determined to bring even greater value to air travel", he said.

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