Emirati budget airline Air Arabia reports record profits after loss in 2020

Emirati budget airline Air Arabia reports record profits after loss in 2020

Emirati airline Air Arabia reported today an increase in profits. 

The budget carrier said its net profit in 2021 was 720 million Emirati dirhams ($196 million). This constituted a 475% increase from the net loss of 192 million dirhams ($52 million) in 2020. The 2021 net profit was the highest since Air Arabia was formed in 2003, the airline stated in a press release. 

The Sharjah-based Air Arabia is one of the preeminent airlines in the United Arab Emirates alongside Etihad and Emirates. Air Arabia focuses on providing low-cost options to its customers.