Sharjah: Low-cost carrier Air Arabia reported a 17 per cent increase in net profit for the first three months of 2023 at Dh342 million, the airline said on Monday, compared to Dh291 million in the year-ago period.
In the same period, the airline posted a turnover of Dh1.42 billion, a 27 per cent increase.
More than 3.9 million passengers flew with Air Arabia Group between January and March 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 – or passengers carried as a percentage of available seats – during the period stood at an impressive 85 per cent, up 8 per cent compared to the same period last year.
Commenting on the results, Sheikh Abdullah bin Mohammad Al Thani, Chairman of Air Arabia, said: “Air Arabia’s strong financial results in the first three month of this year reflects our unwavering commitment to operational excellence, rigid cost control measures, and our prudent management team. Despite the ongoing global economic and geo-political uncertainty, our focus on driving profitability and maintaining an efficient operation has enabled us to deliver solid financial and operational results. We are confident in our ability to navigate through market challenges and capitalise on new opportunities, while ensuring we continue to deliver the best value for our customers and shareholders.”
Air Arabia added nine new routes to its global network during this period, serving passengers with its fleet of 68 new Airbus A320 and A321 aircraft.
