Middle East

Air Arabia reports net profit of Dhs 451 million in the first half of 2022

Air Arabia reported net profit for Dhs451m in the first six months to 30 June compared to Dhs44m registered in the first half of 2021.

During the same period, the airline recorded a turnover of Dhs 2.24 billion, an increase of 110% compared to the first half of last year.

Over 5.2 million passengers traveled through Air Arabia’s five hubs between January and June 2022, a 131% increase over the same period last year.

Average seat utilization (the ratio of passengers to available seats) for airlines increased by 11% in the first six months of 2022, averaging 79%.

Second Quarter Milestones

In the second quarter ended 30 June, Air Arabia posted a net profit of Dhs 160 million. In contrast, in the same period last year he reported a net profit of Dhs 10 million.

In the second quarter of 2022, the company’s revenue increased by 125% as air travel demand increased by 1.1 billion Dhs compared to 496 million Dhs in the same period last year.

More than 2.7 million passengers passed through Air Arabia’s five hubs between March and June 2022, a 195% increase compared to the same quarter last year. Average airline load factor increased by 13% in the second quarter of 2022, maintaining an impressive average of 79%.

Highlights of the first half of 2022

In the first half of the year, Air Arabia expanded its network with the addition of six new aircraft to its fleet and the opening of 16 new routes to hubs in the UAE, Morocco and Egypt.

Air Arabia also unveiled brand identities for its two newest businesses in Armenia and Pakistan respectively: Fly Arna and Fly Jinnah.

In June, Fly Arna received an “Airline Operating Certificate” and in July the airline began operating direct flights between Yerevan and Hurghada and Sharm el-Sheikh in Egypt.

Air Arabia will fully resume city check-in across the UAE in the first half of 2022 and was also named ‘Airline of the Year’ at the Air Transport Awards 2022.

read: Air Arabia, Sharjah, Ras Al Khaimah and Ajman resume city check-in services

In March, the airline was awarded the ‘Four Star Low Cost Airline 2022’ rating by APEX – The Airline Passenger Experience Association.

Air Arabia Chairman Sheikh Abdullah bin Mohamed Al Thani said:

He added: and Pakistan. Air Arabia will continue to focus on diversifying and expanding its business, investing in product innovation and adopting further measures to contain costs. ”

https://gulfbusiness.com/uaes-air-arabia-reports-net-profit-of-dhs451m-in-h1-2022/ Air Arabia reports net profit of Dhs 451 million in the first half of 2022

Back to top button