Air Arabia posts Q3 2021 net profit of Dhs209m

Sharjah-based carrier Air Arabia has posted a net profit of Dhs209m for the three months ending September 30.

It marks a 575 per cent increase compared to the same period last year.

This is the fourth consecutive profitable quarter that Air Arabia managed to register since the pandemic hit the aviation industry.

The company’s turnover for the third quarter increased by 174 per cent to Dhs804m, compared to Dhs294m in the corresponding period last year.

Air Arabia served over 1.9 million passengers in the third quarter from its five hubs in the UAE, Morocco and Egypt, an increase of 190 per cent compared to the number of passengers carried in the same quarter last year.

The average seat load factor – or passengers carried as a percentage of available seats – for the same quarter stood at an average of 70 per cent.

During the first nine months of the year, Air Arabia added 43 new routes to its global network from its hubs in the UAE, Morocco, and Egypt.

Air Arabia records solid third quarter net profit of 209 million AED, supported by the gradual resumption of operations and cost control measures. Read more https://t.co/XSOrl3SJyj pic.twitter.com/0gEf6r6iEc

— Air Arabia (@airarabiagroup) November 10, 2021

In September, Air Arabia Group signed an agreement with Lakson Group, one of Pakistan’s leading business conglomerates, to launch a new low-cost airline based in Pakistan.

Earlier in July, Air Arabia Group also announced the signing of an agreement with the Armenian National Interests Fund (ANIF) to launch Armenia’s national airline “Fly Arna”.

The carrier even partnered with Etihad Guest, the loyalty program of Etihad Airways to allow members of both schemes to benefit from reciprocal points and miles transfers.

“While we continue to operate under the impact of Covid-19 pandemic on the aviation industry, we are glad that Air Arabia has returned to double-digit growth,” said Sheikh Abdullah bin Mohamed Al Thani, chairman of Air Arabia.

“This performance is supported by the gradual resumption of operations witnessed this year, especially in the third quarter, as well as the cost control measures adopted by the management team since the start of the pandemic.”

“While air travel volatility at current times remains a reality, we are confident of the global efforts made in this regard and hopeful that the steady recovery witnessed in the third quarter continues.”