Budget airline Air Arabia , UAE's only publicly-listed carrier, reported a 20 percent rise in first quarter net profit, it said on Monday.

The Sharjah-based airline made a net profit of 59 million dirhams ($16.06 million), compared with 49 million dirhams in the same period in 2012, it said in a statement.

Revenue for the quarter rose 22 percent to 722 million dirhams, Air Arabia said, adding passenger traffic during the period was up 18 percent. – Reuters