Air Arabia delivers record 2022 net profit of AED 1.2 billion

Air Arabia delivers record 2022 net profit of AED 1.2 billion

SHARJAH, 13th February, 2023 (WAM) -- Air Arabia today announced historic financial results for the full year ending 31st December, 2022 (FY'22), almost doubling the profit and passenger numbers of the previous year, as the airline continued with its growth plans, delivering remarkable financial and operational performance.

Air Arabia reported a FY'22 net profit of AED 1.2 billion, an increase of 70 percent year-on-year (YoY). The airline's FY'22 turnover reached AED 5.2 billion, an increase of 65 percent YoY.

Air Arabia served more than 12.8 million passengers in 2022 from its seven hubs in the UAE, Morocco, Egypt, Armenia, and Pakistan, an increase of 90 percent compared to 6.8 million passengers carried in 2021. The average seat load factor – or passengers carried as a percentage of available seats – for the full year stood at a high 80 percent.

Air Arabia’s Board of Directors proposed a dividend distribution of 15 percent of share capital, which is equivalent to 15 fils per share.

Commenting on the results, Sheikh Abdullah bin Mohammad Al Thani, Chairman of Air Arabia, said, "Air Arabia’s 2022 record profitability is considered the best in the company’s operating history. The remarkable operational and financial performance reflect the carrier’s robust business model,