Low-cost carrier Air Arabia has reported robust financial and operational results for Q3 and the first nine months of the year ending September 30.
The airline netted a record Dhs1.32bn in profit for the period, an increase of 53 per cent compared to the same period last year.
Revenue earned for the period rose by 16 per cent, taking the amount to Dhs4.45bn.
Passengers served were 12.4 million compared to nine million in 2022, a 36 per cent rise. The seat load factor was 80 per cent.
Air Arabia sees reports record performance
Sheikh Abdullah Bin Mohamed Al Thani, chairman of Air Arabia, said: “Air Arabia maintained its robust growth in the first nine months of this year by expanding operations across its seven operational hubs and introducing new routes to enhance the carrier’s global network.
“The increase in capacity during this period was complemented by an impressive surge in passenger numbers, reaching a total of 12.4 million, and marking a remarkable 36 per cent increase compared to the first nine months of last year.”
Air Arabia‘s net profit for Q3 was Dhs522m, an increase of 26 per cent compared to the same period last year, while revenue for Q3 2023 was Dhs1.63bn.
Al Thani added: “Air Arabia’s record performance in the third quarter of this year was driven by robust passenger demand and effective cost control measures implemented by the management team.”
The airline added a total of 17 new routes to its network during this period; the total network now features 206 routes from seven operating hubs.
In other news, Air Arabia Abu Dhabi is relocating to Terminal A at Abu Dhabi International Airport on November 14.
In October, the airline marked its 20th year of operations by introducing a new element to its livery to celebrate the milestone.