Air Arabia reported a net profit of AED 416 million for the quarter ending September 30, 2022, with an increase of 99% compared to AED 209 million registered in last year’s third quarter. The airline posted a 100% increase in turnover closing the quarter at AED 1.6 bn. The airline reported flying over 3.9 million passengers across six middle eastern destinations – UAE, Morocco, Egypt, and Armenia. The increase in passenger numbers was 103% more as compared to Q3 of 2021.
Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, said: “Air Arabia’s solid performance in the third quarter of this year reflects the company’s strong operational and commercial strategy, and its underlying commitment to consistently deliver true value to customers. We are glad to witness another record performance supported by the strong passenger demand and rigid cost control measures adopted by the management team.”
During the first nine months ending September 30, 2022; Air Arabia registered a net profit of AED 867 million; an increase of 242% compared to the same period of last year. The company reported a turnover of AED 3.8 billion for the first nine months of 2022, an increase of 106% compared to the corresponding period last year. More than 9 million passengers flew with the carrier across its six hubs in the first nine months of 2022, an increase of 118% compared to the 9M of 2021.
“Air Arabia maintained its robust growth in the first nine months of this year by launching the operations of its joint venture airline in Armenia as well as adding new routes and flights across the carrier’s global network. Air Arabia remains focused on diversifying and expanding its business while investing in product innovation and adopting further measures to control costs,” added Al Thani.
During the first nine months of the year, Air Arabia added 10 new aircraft to its fleet and expanded its destination network by launching 14 new routes across its hubs in the UAE, Morocco, Egypt, and Armenia. In June 2022, “Fly Arna” celebrated the launch of its operations and today operates a fleet of 2 Airbus A320 aircraft serving 5 destinations from Yerevan. In September 2022, Air Arabia announced its latest joint venture to launch “Air Arabia Sudan”, in partnership with DAL Group while in October 2022, “Fly Jinnah”, the carrier’s joint venture company in Pakistan, received its Air Operator Certificate and Air Operating License and in November 2022, it started its domestic operations across five destinations in Pakistan.
In July 2022, Air Arabia Abu Dhabi celebrated its successful second year of operations serving over 1 million passengers since it started its operations from Abu Dhabi International Airport.
“While we continue to witness a strong recovery in air travel, the aviation industry continues also to face many geo-political challenges and economic uncertainty. Despite these challenges, we have full confidence in the business model we operate, as we remain focused on driving operational efficiency across the board and delivering optimum value to our customers,” Al Thani concluded