Air Arabia’s quarterly profit soars 187% to Dhs459m

Air Arabia’s quarterly profit soars 187% to Dhs459m

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Sharjah-based Air Arabia has reported a 187 per cent increase in second-quarter net profit to Dhs459m from Dhs160m during the corresponding period a year earlier. 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 jumped by 25 per cent to reach Dhs1.39bn from Dhs1.11 billion in the corresponding period last year, as the demand for air travel continues to increase.

The budget carrier flew more than 3.8 million passengers between April and June 2023 across the carrier’s seven hubs, an increase of 37 per cent compared to the same quarter last year. Air Arabia’s average seat load factor during the second quarter of 2023 stood at an average of 76 per cent.

Air Arabia’s half-year earnings

Air Arabia’s half-year net profit jumped 78 per cent to Dhs801m, from Dhs451m registered in the corresponding first half of 2022.

The airline reported a turnover of Dhs2.82bn, a 26 per cent increase from Dhs2.24bn registered in the corresponding first half of last year. More than 7.7 million passengers flew with Air Arabia between January and June 2023 across the carrier’s seven hubs, an increase of 47 per