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Air Arabia reports net profit of AED 451 million in H1 2022

August 11, 2022
aviation

SHARJAH, 10th August, 2022 (WAM) -- Air Arabia, the Middle East & North Africa’s first and largest low-cost carrier operator, today reported a net profit of AED 451 million for the first six months ending 30th June, 2022, compared to AED 44 million registered in the corresponding first half 2021.

In the same period, the airline posted a turnover of AED 2.24 billion, a 110 percent 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 percent compared to the same period last year. The airline’s average seat load factor – or passengers carried as a percentage of available seats – increased by 11 percent during the first six months of 2022 and stood at 79 percent.

During the second quarter ending 30th June, 2022, Air Arabia registered a net profit of AED 160 million, compared to AED 10 million net profit reported for the same period last year. The company’s turnover for the second quarter of 2022 increased by 125 percent as demand for air travel increased registering an AED 1.11 billion, compared to AED 496 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 percent compared to the same quarter last year. The airline’s average seat load factor increased by 13 percent during the second quarter of 2022 and stood at an impressive average of 79 percent.

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.'

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