Air Arabia net profit touches Dh1.2 billion in 2022

Air Arabia net profit touches Dh1.2 billion in 2022

Sharjah-based carrier Air Arabia reported a net profit of Dh1.2 billion for the full year ending December 31, 2022, an increase of 66.6 per cent compared to Dh720 million in the year-ago period, the airline said on Monday. The airline’s turnover during the period reached Dh5.2 billion, an increase of 62.5 per cent compared to Dh3.2 billion in 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 of available seats – for the full year stood at a high 80 per cent. The airline’s Board of Directors proposed a dividend distribution of 15 per cent of share capital, which is equivalent to 15 fils per share. 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