First half 2023 net profit increased by 78% reaching AED 801mn and turnover exceeding AED 2.8bn
Air Arabia recently reported a record second quarter and first half 2023 financial and operational results, as the airline continues to demonstrate remarkable performance and growth, the carrier revealed via a press communique.
Air Arabia registered a net profit of AED 459mn during the second quarter ending June 30, 2023, an increase of 187 per cent compared to AED 160mn net profit reported for the same period last year.
The company’s turnover for the same period increased by 25 per cent, as the strong demand for air travel continued, registering an AED 1.39bn, compared to AED 1.11bn in the corresponding period last year.
Passenger numbers
More than 3.8 million passengers flew with Air Arabia between Q2-2023 across the carrier’s seven hubs, an increase of 37 percent compared to the same quarter last year. The airline’s average seat load factor during Q2-2023 stood at an average of 76 per cent.
“Our team’s dedication continues to drive sustained momentum across our businesses, and we are steadfast in our commitment to continue delivering exceptional value to our customers,” commented Sheikh Abdullah Bin Mohamed Al Thani, Chairman, Air Arabia.
In H1-2023, the carrier has expanded its network by launching 18 new routes across its seven operating hubs in the UAE, Morocco, Egypt, Armenia, and Pakistan.
