Air Arabia reports record third quarter net profit of $113.24 mln, up 99 pct

Air Arabia reports record third quarter net profit of $113.24 mln, up 99 pct

Air Arabia, the Middle East & North Africa’s first and largest low-cost carrier operator, announced on Thursday record financial results for the third quarter ending September 30, 2022, as the carrier continues to deliver solid operational and financial performance.

Air Arabia reported a net profit of $ 113.24 million (AED 416 million) for the three months ending September 30, 2022; an increase of 99 percent compared to AED 209 million registered in the corresponding third quarter of 2021. In the same period, the airline posted a turnover of AED 1.6 billion, a 100 percent increase compared to the same quarter of last year.

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More than 3.9 million passengers flew with Air Arabia Group between July and September 2022 across the carrier’s six hubs in the UAE, Morocco, Egypt and Armenia, an increase of 103 percent compared to the number of passengers carried in the same quarter last year.

The average seat load factor – or passengers carried as a percentage of available seats –during the third quarter of 2022 stood at an impressive average of 80 percent.

Sheikh Abdullah bin Mohammed al-Thani, Chairman of Air Arabia, said: “Air Arabia’s solid performance