Air Arabia reports record net profit of $113.26mln

Air Arabia today announced record financial results for the third quarter ending 30th September, 2022.

Air Arabia's net profit of AED 416 million for the third quarter of 2022 represents an increase of 99 percent compared to AED 209 million registered in the corresponding third quarter of 2021. In the same period, the airline posted a turnover of AED1.6 billion, a 100 percent increase compared to the same quarter of last year.

More than 3.9 million passengers flew with Air Arabia Group between July and September 2022 across the carrier’s six hubs in the UAE, Morocco, Egypt and Armenia, an increase of 103 percent compared to the number of passengers carried in the same quarter last year. The average seat load factor – or passengers carried as a percentage of available seats – during the third quarter of 2022 stood at an impressive average of 80 percent.

Sheikh Abdullah bin Mohamed Al Thani, Chairman of Air Arabia, said, “Air Arabia’s solid performance in the third quarter of this year reflects the company’s strong operational and commercial strategy, and its underlying commitment to consistently deliver true value to customers."

“Air Arabia maintained its robust growth in the first nine months of this year by launching the operations of its joint venture airline in Armenia as well as adding new routes and flights across the carrier’s global network. Air Arabia remains focused on diversifying and expanding its business, while investing in product innovation and adopting further measures to control costs," he added.

Source: Zawya.com