13 August, 2022

Air Arabia's second quarter net profit reached AED 160 million

The Middle East & North Africa's largest low-cost carrier operator, Air Arabia has just released its latest results showing an impressive net profit of AED 451 million for the first six months of the year,  ending June 30, 2022. This compares to the AED 44 million registered in the corresponding first half 2021.

The Middle East & North Africa's largest low-cost carrier operator, Air Arabia has just released its latest results showing an impressive net profit of AED 451 million for the first six months of the year,  ending June 30, 2022. This compares to the AED 44 million registered in the corresponding first half 2021. 

Air Arabia reported a turnover of AED 2.24 billion, that's 110% up from last year and testament to the growing demand that has seen more than 5.2 million people fly with the budget airline between January and June 2022.

In other key areas, the airline reported that load fact was up 11% to 79% on average. Net profit stood at AED 160 million and the company’s turnover for the second quarter of 2022 increased by 125%  to AED 1.11 billion. More than 2.7 million passengers flew with Air Arabia between March and June 2022 across the carrier’s five hubs

Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, said: “The solid financial and operational performance registered in the first half of this year is a testament to the strength of the business model we operate and the appeal to the value-driven product that Air Arabia offers to our customers. The strong performance we witnessed in the first quarter of this year continued in the second quarter and was supported by higher customer demand and cost control measures adopted by the management team”.

He added: “We have continued with our network expansion strategy in the second quarter of this year by increasing the fleet size, adding new routes and new frequencies across all operating hubs as well as continuing with preparations for the launch of our new ventures in Armenia and Pakistan. Air Arabia remains focused on diversifying and expanding its business while investing in product innovation and adopting further measures to control costs”.

Al Thani concluded: “The global aviation industry continues to face geo-political challenges, the impact of higher oil prices and uncertainty towards full economic recovery. Despite all these challenges, we have full confidence in the business model we operate, and the crucial role that the aviation industry plays in supporting regional and global economic growth”. 

During the first half of the year, Air Arabia added 6 new aircraft to its fleet and expanded its network by launching 16 new routes across its hubs in the UAE, Morocco, and Egypt. Air Arabia also unveiled the brand identity of its latest two ventures “Fly Arna” and “Fly Jinnah’ in Armenia and Pakistan respectively. In June, Fly Arna received it Air Operating Certificate and in July, the carrier celebrated the launch of its operations with direct flights connecting Yerevan to Hurghada and Sharm el-Sheikh in Egypt. In the first half of the year, Air Arabia fully resumed its city check-in across the UAE and was named “Airline of the year” at the Air Transport Awards 2022. In March, the carrier won the “Four-Star Low-Cost Carrier 2022” rating by APEX - The Airline Passenger Experience Association.












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