Sharjah-based low-cost carrier Air Arabia reported a net profit of Dh416 million for the three months ending September 30, 2022, an increase of 99 per cent compared to Dh209 million in the year-ago period, it said on Wednesday.
In the same period, the airline posted a turnover of Dh1.6 billion, a 100 per cent increase compared to the same quarter last year.
The airline carried over 3.9 million passengers during the quarter across its six hubs in the UAE, Morocco, Egypt and Armenia, an increase of 103 per cent over the same period a year ago. Load factor – or passengers carried as a percentage of available seats – stood at 80 per cent.
“Air Arabia’s solid performance in the third quarter of this year reflects the company’s strong operational and commercial strategy, and its underlying commitment to consistently deliver true value to customers. We are glad to witness another record performance supported by the strong passenger demand and rigid cost control measures adopted by the management team,” Air Arabia Chairman Sheikh Abdullah Bin Mohamed Al Thani said.
Nine-month report card
During the first nine months ending September 30, the airline registered a net profit of Dh867 million, an increase of 242 per cent compared to the same period last year. It reported a turnover of Dh3.8 billion, an increase of 106 per cent, and carried more than nine million passengers, a 118 per cent jump. Average seat load factor stood at 79 per cent.
Expanding footprint
During the first nine months, Air Arabia added 10 new aircraft to its fleet and expanded its destination network by launching 14 new routes across its hubs.
In June, Fly Arna celebrated the launch of its operations and today operates a fleet of two Airbus A320 aircraft serving five destinations from Yerevan. In September, Air Arabia announced its latest joint venture -- Air Arabia Sudan -- in partnership with DAL Group.
In October, Fly Jinnah, the carrier’s joint venture company in Pakistan, received its Air Operator Certificate and Air Operating License, and in November it started its domestic operations across five destinations in Pakistan.
