Air Arabia reports first quarter 2022 net profit of AED 291mln

Air Arabia reports first quarter 2022 net profit of AED 291mln

Sharjah, UAE: Air Arabia (PJSC), the Middle East & North Africa’s first and largest low-cost carrier operator, today reported a strong first quarter (January to March) 2022 as recovery in demand for air travel continued.

Air Arabia reported a net profit of AED 291 million for the first three months ending March 31, 2022, an increase of 756 percent compared to AED 34 million registered in the corresponding quarter in 2021. In the same period, the airline posted a turnover of AED 1.12 billion, a 97 percent increase in turnover compared to the first quarter of last year.

The financial and operational results achieved in the first quarter were backed by the continuous recovery in demand for air travel. More than 2.4 million passengers flew with Air Arabia between January and March 2022 across the carrier’s five hubs, an 86 percent increase compared to a total of 1.3 million passengers carried in the first quarter of last year. The airline’s average seat load factor – or passengers carried as a percentage of available seats – during the first three months of 2022 stood at an impressive 79 percent, up 4 percent compared to the same period last year.

Commenting on the results, Sheikh