Air Arabia, the Middle East and North Africa’s (MENA) biggest low-cost carrier operator, has reported strong profits and turnover for the first quarter of 2022.
Profits surged from $9.3 million (AED34 million) in the first quarter of 2021 to $79.2 million (AED291 million) for the same period this year – a rise of 756 percent.
Turnover also rebounded strongly reaching $300 million in Q1 2022, a 97 percent increase in turnover compared to the first quarter of last year. The financial results highlight the continuous recovery in demand for air travel.
The chairman of Air Arabia, Sheikh Abdullah bin Mohammad Al Thani, said: “We have continued with our network expansion strategy in the first quarter of this year by adding new routes and new frequencies across all operating hubs as well as continuing with preparations for the launch of our new ventures in Armenia and Pakistan.”
More than 2.4 million passengers flew with Air Arabia between January and March 2022, across the carrier’s five hubs. This marked an 86 percent increase compared to a total of 1.3 million passengers carried in the first quarter of last year.
Air Arabia added four new routes from its operating hubs in the UAE, Morocco and Egypt in the first three months of 2022 and fully resumed its city check-in across the UAE.
The low-cost airline also unveiled the brand identity of its latest two ventures Fly Arna and Fly Jinnah in Armenia and Pakistan respectively.
Al Thani added: “In addition to the lasting impact of Covid-19 on global aviation, the industry continues to face geo-political challenges, higher oil prices and uncertainty towards full economic recovery.
“Although all these challenges are of a changing nature, we have full confidence in the business model that we operate, the strength of the aviation industry worldwide, as well as its role in supporting regional and global economic recovery.”
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