Air Arabia lands record Dh1.6b profit in 2024 after Q4 spike
Full-year revenue surges 11% to Dh6.6b, with passenger numbers rising 12%
Dubai: Low-cost carrier operator Air Arabia saw its pretax profit soar past a new record of Dh1.6 billion in 2024, with full-year revenue surging 11 per cent on the back of passenger numbers spiking to 18.8 million.
The board of directors at Air Arabia proposed a cash dividend of 25 fils per share, attributing its performance to an “exceptional” Q4 performance: Net profit jumps 56% to Dh351 million, with quarterly revenue surpassing Dh1.65 billion.
“In 2024, Air Arabia reinforced its commitment to expansion and operational excellence by growing its network across six hubs and adding 31 new routes. This strategic expansion led to a 13% increase in operational capacity and a 12% rise in total passengers carried, reaching 18.8 million across the group,” the company said in a statement.
“The airline also reported a 2% increase in average seat load factor, reaching 82%, further underscoring the sustained strong demand for Air Arabia’s value-driven, low-cost services.”
Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, said: “2024 has been a record-breaking year for Air Arabia Group, marked by significant expansion and an increased footprint across all key markets.”
He continued: “Despite the geopolitical tensions and economic challenges impacting the region, Air Arabia Group has successfully sustained its strong growth trajectory in 2024. This was driven by increased operating capacity, the launch of new routes, and continued network expansion from all our hubs.”
