UAE: Air Arabia reports record second quarter net profit of Dh459 million, up 187%

UAE: Air Arabia reports record second quarter net profit of Dh459 million, up 187%

More than 3.8 million passengers flew with the airline between April and June 2023 across the carrier’s seven hubs

By Web Desk Published: Fri 11 Aug 2023, 7:45 PM

Air Arabia, the Middle East & North Africa’s first and largest low-cost carrier operator, on Friday reported a record second quarter and first half 2023 financial and operational results, as the airline continues to demonstrate remarkable performance and growth.

Air Arabia registered a net profit of Dh459 million during the second quarter ending June 30, 2023, an increase of 187 per cent compared to Dh160 million net profit reported for the same period last year.

The second quarter net profit also included an exceptional one-off receivable that the airline received from one of its suppliers.

The company’s turnover for the same period increased by 25 per cent, as the strong demand for air travel continued, registering an Dh1.39 billion, compared to Dh1.11 billion in the corresponding period last year.

More than 3.8 million passengers flew with Air Arabia between April and June 2023 across the carrier’s seven hubs, an increase of 37 percent compared to the same quarter last year. The airline’s average seat load factor during the second quarter of 2023 stood at an average of