UAE-headquartered carrier Air Arabia has reported a net profit of Dhs451 million for the first six months ending June 30, 2022.

That figure represents a 925 per cent increase compared to the Dhs44 million it registered in the corresponding period in 2021.

Also, the low-cost carrier which is listed on the Dubai Financial Market posted a turnover of Dhs2.24 billion, a 110 per cent increase compared to the corresponding first half of last year.

More than 5.2 million passengers flew with Air Arabia between January and June 2022 across the carrier’s five hubs, an increase of 131 per cent year-on-year.

The airline’s average seat load factor – or passengers carried as a percentage of available seats – increased by 11 per cent during the first six months of 2022 and stood an average at 79 per cent.

During the second quarter ending June 30, 2022, Air Arabia registered a net profit of Dhs160 million, compared to Dhs10 million net profit it reported over the same period last year. The company’s turnover for the second quarter of 2022 increased by 125 per cent as demand for air travel increased registering an Dhs1.11 billion, compared to Dhs496 million in the corresponding period last year. More than 2.7 million passengers flew with Air Arabia between March and June 2022 across the carrier’s five hubs, an increase of 195 per cent over the same quarter last year. The airline’s average seat load factor increased by 13 per cent during the second quarter of 2022 and stood at an average of 79 per cent.

In the first half of this year itself, Air Arabia added six new aircraft to its fleet and expanded its network by launching 16 new routes across its hubs in the UAE, Morocco, and Egypt.

It also unveiled the brand identity of its two ventures ‘Fly Arna’ and ‘Fly Jinnah’ in Armenia and Pakistan respectively. In June, Fly Arna received it Air Operating Certificate and in July it launched direct flights connecting Yerevan to Hurghada and Sharm el-Sheikh in Egypt.

“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. 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,” said Sheikh Abdullah Bin Mohamed Al Thani, chairman of Air Arabia.

airarabia.com