Air Arabia reports net profit of Dhs342m for Q1 2023

Air Arabia reports net profit of Dhs342m for Q1 2023

Sharjah-based airline Air Arabia has reported a strong first quarter in both financial and operational terms. The carrier announced a net profit of Dhs342m for the period ending March 31. This marks a 17 per cent increase compared to the Dhs291m profit recorded in the same quarter in 2022. Additionally, the airline’s turnover for the period was Dhs1.42bn, marking a 27 per cent increase compared to the first quarter of last year. More than 3.9 million passengers flew with Air Arabia Group between January and March across its seven hubs in the UAE, Morocco, Egypt, Armenia and Pakistan. This reflects a rise 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 was 85 per cent, up 8 per cent compared to the same period . Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia, said, “Air Arabia’s strong financial results in the first three month of this year reflects our unwavering commitment to operational excellence, rigid cost control measures, and our prudent management team.