Air Arabia delivers record 2022 net profit of AED 1.2bln, up 70%

Air Arabia delivers record 2022 net profit of AED 1.2bln, up 70%

- Airline BoD’s proposes a cash dividend distribution of 15 fils per share.

Sharjah, UAE: Air Arabia (PJSC), the first and largest low-cost carrier (LCC) operator in the Middle East and North Africa, today announced historic financial results for the full year ending December 31, 2022, almost doubling the profit and passengers’ numbers of the previous year, as the airline continued with its growth plans, delivering remarkable financial and operational performance.

Air Arabia reported a net profit of AED 1.2 billion for the full year ending December 31, 2022, an increase of 70 per cent compared to AED 720 million registered for the full year 2021. The airline turnover for the full year 2022 reached AED 5.2 billion, an increase of 65 per cent compared to AED 3.2 billion registered for the full year 2021.The financial and operational results achieved in 2022 were strongly supported by the growth in passenger numbers that exceeded pre-pandemic levels.

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 per cent compared to 6.8 million passengers carried in 2021. The average seat load factor – or passengers carried as a percentage