Sharjah-based budget carrier Air Arabia recorded AED451 million in net profits, as demand for travel increases over the first six months of 2022.
The profits in numbers this year showed a significant rise, compared to 44 million registered last year during the same period.
The airline posted a turnover of 110 percent to AED2.24 billion, as well.
Over 5.2 million passengers flew with Air Arabia, the carrier said in a statement on Wednesday, between January and June 2022 across the airline’s five hubs, showing an increase of 131 percent compared to the same period last year.
The airline’s average seat load increased by 11 percent during the first six months of 2022 and stood at a total average of 79 percent.
“The solid financial and operational performance registered in the first half of this year is a testament to the strength of the business model we operate and the appeal to the value driven product that Air Arabia offers to our customers,” Air Arabia’s chairman Sheikh Abdullah Bin Mohamed Al Thani said.
Air Arabia saw strong quarterly results
Al Thani added the strong performance was the result of the continued increase in the first and second quarter, where net profits of the second quarter were valued at AED160 million with a turnover of AED1.11 billion.
The turnover showed an increase of 125 percent, as over 2.5 million passengers chose Air Arabia as their flight of choice between March and June, this year.
The number of passengers during from March to June showed a 195 percent increase compared to the same quarter last year, Air Arabia reported.
“The airline’s average seat load factor increased by 13 percent during the second quarter of 2022 and stood at an impressive average of 79 per cent,” the carrier added.
Expansion strategy
“We have continued with our network expansion strategy in the second quarter of this year by increasing the fleet size, 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,” Al Thani said, adding Air Arabia remains focused on diversifying and expanding its business while investing in product innovation and adopting further measures to control costs.
Air Arabia added 6 new aircraft to its fleet and expanded its network by launching 16 new routes across its hubs in the UAE, Morocco, and Egypt, over the first six month of 2022.
Air Arabia also unveiled the brand identity of its latest two ventures ‘Fly Arna’ and ‘Fly Jinnah’ in Armenia and Pakistan, respectively.
“The global aviation industry continues to face geo-political challenges, the impact of higher oil prices and uncertainty towards full economic recovery. Despite all these challenges, we have full confidence in the business model we operate, and the crucial role that the aviation industry plays in supporting regional and global economic growth,” Al Thani concluded.
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