Home Financial Record Air Arabia posts record third-quarter profit – up 99% year-on-year

Air Arabia posts record third-quarter profit – up 99% year-on-year

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LONDON – Middle Eastern low-cost airline, Air Arabia, announced record financial results for the third quarter ended September 30, 2022, as the airline continues to show strong operational and financial performance.

Air Arabia reported net profit of AED416 million for the three months ending September 30, 2022; an increase of 99% compared to the AED 209 million recorded in the corresponding third quarter of 2021.

During the same period, the airline recorded revenue of AED 1.6 billion, an increase of 100% compared to the same quarter last year.

More than 3.9 million passengers flew with Air Arabia Group between July and September 2022 across the carrier’s six hubs in the United Arab Emirates, Morocco, Egypt and Armenia, a 103% increase over the number of passengers transported in the same quarter last year.

The average seat load factor – or passengers carried as a percentage of available seats – during the third quarter of 2022 stood at an impressive average of 80%.

Statement from Air Arabia


Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, said, “Air Arabia’s strong performance in the third quarter of this year reflects the company’s strong operational and commercial strategy, as well as its underlying commitment to consistently delivering real value to customers.

“We are pleased to witness another record performance supported by strong passenger demand and the rigid cost control measures adopted by the management team.”

He continued, “Air Arabia has maintained its robust growth in the first nine months of this year by launching its joint venture airline operations in Armenia as well as adding new routes and flights to Air Arabia’s global network. carrier.

“Air Arabia remains focused on diversifying and expanding its business, while investing in product innovation and adopting new measures to control costs.”

90 million passengers in 9 months


During the first nine months ending September 30, 2022; Air Arabia recorded a net profit of AED 867 million; an increase of 242 percent compared to the same period last year. The company recorded revenue of AED3.8 billion for the first nine months of 2022, an increase of 106% compared to the corresponding period last year.

More than 9 million passengers traveled with the carrier through its six hubs in the first nine months of 2022, an increase of 118% compared to the same period last year.

The average seat load factor – or passengers carried as a percentage of available seats – for the same period amounted to a high average of 79%.

Al Thani concluded, “While we continue to witness a strong recovery in air travel, the aviation industry also continues to face many geopolitical challenges and economic uncertainty.”

“Despite these challenges, we have full confidence in the business model we operate, as we remain focused on improving operational efficiency at all levels and delivering optimal value to our customers.”

Fleet and network expansion


In 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 at its hubs in the United Arab Emirates, Morocco, Egypt and Armenia.

In June, “Fly Arna” celebrated the launch of its operations and today operates a fleet of 2 Airbus A320s serving 5 destinations from Yerevan.

In September, Air Arabia announced its latest joint venture to launch “Air Arabia Sudan”, in partnership with DAL Group.

In October, “Fly Jinnah”, the carrier’s joint venture in Pakistan, received its air operator certificate and air operator license and in November it began domestic operations to five destinations in Pakistan.

In July, Air Arabia Abu Dhabi successfully celebrated its second year of operation with more than one million passengers since beginning operations from Abu Dhabi International Airport.

During the same period, Air Arabia was also awarded a “Four-Star Low-Cost Carrier 2022” rating by APEX – The Airline Passenger Experience Association.