Air Arabia reports highest-ever annual net profit of Dhs1.2 billion – Business Traveller

Air Arabia has significantly increased its profit and passengers numbers for the full year ending December 31, 2022, compared to the corresponding period in 2021.

It reported a net profit of Dhs1.2 billion for 2022, an increase of 70 per cent compared to Dhs720 million it registered in 2021.

The airline carried over 12.8 million passengers in 2022 from its seven hubs spread out across the UAE, Morocco, Egypt, Armenia and Pakistan – representing a 90 per cent increase over the 6.8 million passengers it carried in 2021. The average seat load factor – or passengers carried as a percentage of available seats – for the full year stood at 80 per cent.

Air Arabia’s turnover for 2022 reached Dhs5.2 billion, a 65 per cent year-on-year increase compared to Dhs3.2 billion in the previous year. That figure was bolstered by the turnover that the airline recorded in the last quarter 2022 that reached Dhs1.4 billion, an increase of 7 per cent compared to the same quarter in 2021.

The carrier added 24 new routes to its global network in 2022. It also took delivery of 10 new aircraft and ended the year with a fleet of 68 Airbus A320 and A321 aircraft operating to over 190 routes across the Middle East, Africa, Asia and Europe.

Furthermore, it launched operations of its latest joint ventures airlines in Armenia and Pakistan. In June, Fly Arna, Armenia’s National Airline, started its operations from its base in Yerevan and since then has expanded its network by adding five new routes; Fly Jinnah, Pakistan new low-cost carrier, started operating in October and has added four domestic destinations. Last year, Air Arabia Group and DAL Group also signed an agreement to form Air Arabia Sudan, a joint venture company that will be based in Khartoum.

“Air Arabia’s 2022 record profitability is considered the best in the company’s operating history. Although the year 2022 continued be challenging, the aviation industry has begun returning to normality as airlines and airports worldwide witnessed faster recovery following the drop in demand cause by the pandemic,” said Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia.

airarabia.com