The airline registered a net profit of US$125 million
Sharjah-based Emirati low-cost airline Air Arabia reported record Q2 and H1 2023 financial and operational results as the airline continues to grow.
The airline registered a net profit of AED459 million (US$125 million) during the second quarter ending 30 June 2023, an increase of 187% compared to AED160 million (US$43 million) net profit reported for the same period in 2022.
As the strong demand for air travel continued, the company’s turnover for the same period increased by 25%, registering an AED1.39 billion (US$378 million), compared to AED1.11 billion (US$300 million) in the corresponding period last year.
More than 3.8 million passengers flew with Air Arabia between April and June 2023 across the carrier’s seven hubs, an increase of 37% compared to the same quarter last year. The airline’s average seat load factor during the second quarter of 2023 stood at an average of 76%.
Between January and June 2023, a total of 7.7 million passengers flew with Air Arabia across the carrier’s seven hubs, representing an increase of 47% compared to H1 2022.
Air Arabia chairman Sheikh Abdullah Bin Mohamed Al Thani said: “Our steady performance in the first quarter continued to the second quarter underlining the consistency of our growth strategy and operational excellence.
"Throughout the first half of 2023, Air Arabia remained committed to its strategic expansion plan by strengthening the fleet size, adding new routes and new frequencies across all seven operating hubs.”
During the first half of the year, Air Arabia added three new aircraft to its modern fleet, which currently stands at 71 owned and leased Airbus A320 and A321 aircraft. The carrier also expanded its network in the first half of the year by launching 18 new routes across its seven operating hubs in the UAE, Morocco, Egypt, Armenia, and Pakistan.
For more information, visit www.airarabia.com