Air Arabia reports strong first quarter net with $93.12 mln, up 17 pct

Air Arabia reports strong first quarter net with $93.12 mln, up 17 pct

Air Arabia, the Middle East & North Africa’s first and largest low-cost carrier operator, reported on Tuesday a strong first quarter 2023 financial and operational, as the airline continued to expand its network and further strengthening its leadership position in the market.

Air Arabia reported a net profit of $93.12 million (Dh 342 million) for the first three months ending March 31, 2023, an increase of 17 percent compared to Dh. 291 million registered in the corresponding quarter in 2022. In the same period, the airline posted a turnover of Dh. 1.42 billion, a 27 percent increase in turnover compared to the first quarter of last year.

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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 –