Thursday, December 8, 2022

Sharjah’s Air Arabia profit hits Dh451m in H1-22

Low-cost carrier Air Arabia reported a net profit of Dh451 million for the first six months ending June 30, 2022, compared to Dh44 million in the corresponding first-half 2021. In the same period, the airline posted a turnover of Dh2.24 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.

Strong quarter
During the second quarter ending of 2022, Air Arabia registered a net profit of Dh160 million, compared to Dh10 million net profit reported for the same period last year. The company’s turnover for the quarter increased by 125 per cent to Dh1.11 billion compared to Dh496 million Q2-2022.

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

“The global aviation industry continues to face geo-political challenges, the impact of higher oil prices and uncertainty towards full economic recovery,” said Al Thani. “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.

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