Air Arabia, the region’s first low-cost carrier that started operating in 2003, posted its highest pre-tax net profit of AED 1.6 billion ($440 million), up 4 per cent from the previous year, as it announced its financial and operational results for the full year ending December 31, 2024.
Total turnover for the year surpassed AED 6.63 billion ($1.81 billion), marking an 11 per cent growth from AED 6 billion in 2023.
Air Arabia’s record growth
In 2024, Air Arabia grew its network across six hubs and added 31 new routes. This strategic expansion led to a 13 per cent increase in operational capacity and a 12 per cent rise in total passengers carried, which reached 18.8 million across the group. The airline also reported a 2 per cent increase in average seat load factor, reaching 82 per cent.
Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, commented: “It has been a record-breaking year for Air Arabia Group, marked by significant expansion and an increased footprint across all key markets. Building on our strong foundation, we have continued to achieve remarkable financial and operational growth, reaffirming the strength of our business model.
“Despite the geopolitical tensions and economic challenges impacting the region, Air Arabia Group has successfully sustained its strong growth trajectory in 2024. This was driven by increased operating capacity, the launch of new routes, and continued network expansion from all our hubs. We take great pride in our ability to deliver a value-driven travel experience to a growing customer base, strengthening our presence across global markets while maintaining operational excellence.”
The fourth quarter, ending December 31, 2024, was especially strong for the company as it reported a record net profit of AED 351 million ($95.6 million), marking a 56 per cent increase compared to AED 225 million in the same quarter last year. Total turnover rose 7 per cent to AED 1.65 billion ($450 million), driven by an 11 per cent increase in passenger numbers. The airline carried over 4.7 million passengers across all hubs during the quarter and the seat load factor increased by 2 per cent.
The Board proposed a dividend distribution of 25 per cent, equivalent to 25 fils per share.
Air Arabia’s total operating fleet expanded to 81 Airbus A320 and A321 aircraft across all hubs. It added 10 Airbus A320 aircraft to the fleet during the year, while nine short-term leased Airbus A320 and A321 aircraft were introduced to support peak season operations across the group.
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