Dubai: Air Arabia has reported a profitable first-half for 2021 despite the continued impact of COVID-19 on the aviation industry. This is the third consecutive profitable quarter it has managed to since the pandemic hit the industry.
Air Arabia reported a net profit of Dh44 million for the period, an increase of 126 per cent compared to the corresponding year. The airline also posted a turnover of Dh1 billion, a 5 per cent increase from same time last year.
During the end of second quarter, Air Arabia registered a net profit of Dh10 million. The turnover for the second quarter increased by 313 per cent as recovery continued and registered Dh496 million, compared to Dh120 million in the corresponding period last year.
“Air Arabia’s ability to post a profitable first-half 2021, is a direct result of the cost control measures adopted by the management team and supported by the gradual resumption of operations witnessed in the first half,” said Sheikh Abdullah Bin Mohamed Al Thani, Chairman. “While flights resumption compared to pre-pandemic are still subject to many restrictions, the second quarter of 2021 witnessed gradual improvement in comparison to same quarter last year, which was heavily impacted by the subsequent cancellation of scheduled flight operations.”
During the first-half, Air Arabia managed to also expand its route network by launching new flights from its hubs in the UAE and Egypt. The carrier also partnered with Etihad Guest, the loyalty programme of Etihad Airways to allow members of both schemes to benefit from reciprocal points and miles transfers.
In July, Air Arabia Group signed an agreement with the Armenian National Interests Fund (ANIF) to launch Armenia’s new national airline.