Air Arabia Q1 net profit up 17% to AED342m

Air Arabia Q1 net profit up 17% to AED342m

Local News, Uncategorized















SHARJAH / WAM

Air Arabia (PJSC), the Middle East & North Africa’s largest low-cost carrier, has reported a strong first quarter in both

financial and operational terms, recording a net profit of AED342 million for the first three months ending on March 31, 2023, which represents a 17 percent increase compared to the AED291 million profit recorded in the same quarter in 2022. Additionally, the airline’s turnover for the period was AED1.42 billion, which marks a 27 percent increase compared to the first quarter of last year.

Air Arabia’s strong performance in the first quarter of 2023 reflects the airline’s ability to constantly deliver solid performance while navigating through challenging trading environments. More than 3.9 million passengers flew with Air Arabia group between January and March 2023 across the carrier’s seven operating hubs in the UAE, Morocco, Egypt, Armenia and Pakistan, an increase of 59 per cent compared to a total of 2.4 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 2023