Sharjah, UAE – Air Arabia reported a record net profit of AED459 million ($125m) during the second quarter ending of 2023.
The profit increased by 187 percent compared to AED160 million ($43.56m) net profit reported for the same period last year.
It also included an exceptional one-off receivable that the airline received from one of its suppliers.
The company’s turnover for the same period increased by 25 percent, as the strong demand for air travel continued, registering an AED1.39 billion, compared to AED1.11 billion in the corresponding period last year.
More than 3.8 million passengers flew with Air Arabia between April and June 2023 across the carrier’s seven hubs, an increase of 37 percent compared to the same quarter last year.
During the first half of 2023, Air Arabia reported a net profit of AED801 million, an increase of 78 percent compared to AED451 million registered in the corresponding first half of 2022.
In the same period, the airline posted a turnover of AED2.82 billion, a 26 percent increase compared to AED2.24 billion registered in the corresponding first half of last year.
More than 7.7 million passengers flew with Air Arabia between January and June 2023 across the carrier’s seven hubs, an increase of 47 percent compared to the same period last year.
During the first half of the year, Air Arabia added three new aircraft to its modern fleet bringing it to a total of 71 owned and leased Airbus A320 and A321 aircraft.
Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, said, “Air Arabia’s strong performance in the second quarter of this year is a testament to the resilience and effectiveness of the business model we operate.
