Sharjah-based Air Arabia records 574% surge in Q3-21 net profit

Dubai: Low-cost carrier Air Arabia on Wednesday reported a strong net profit of Dh209 million in the third quarter, an increase of 575 per cent compared to the same period last year. The company’s turnover for the third quarter of 2021 increased by 174 per cent to Dh804 million, compared to Dh294 million in the corresponding period last year.

More than 1.9 million passengers flew with Air Arabia between July and September 2021, an increase of 190 per cent. The average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an average of 70 per cent.

“This performance is supported by the gradual resumption of operations witnessed this year, especially in the third quarter, as well as the cost control measures adopted by the management team since the start of the pandemic,” said Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia. “We are confident that the gradual ease on travel restrictions and resumption of operations will continue to help the industry in its path towards recovery.”

During H1-2021, Air Arabia added 43 new routes to its global network from its hubs in the UAE, Morocco, and Egypt. In September, Air Arabia Group signed an agreement with Lakson Group, one of Pakistan’s leading business conglomerates, to launch a new low-cost airline based in Pakistan.