Air Arabia reports Dhs291m in net profit for Q1 2022

Low-cost carrier Air Arabia reported a net profit of Dhs291m for the first three months ending March 31, 2022, posting an increase of 756 per cent compared to Dhs34m registered in the corresponding quarter last year.

The airline posted a turnover of Dhs1.12bn for Q1 2022, marking a 97 per cent increase compared to the first quarter of last year.

Air Arabia reports first quarter 2022 net profit of AED 291 million carrying 2.4 million passengers and adding 4 new routes
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— Air Arabia (@airarabiagroup) May 11, 2022

More than 2.4 million passengers flew with Air Arabia between January and March 2022, across the carrier’s five hubs, posting an 86 per cent increase compared to 1.3 million passengers carried during the first quarter of last year.

The airline’s average seat load factor – or passengers carried as a percentage of available seats – during the first three months of 2022 stood at 79 per cent, up 4 per cent compared to the same period last year.

Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia, said: “The strong performance we witnessed last year continued in the first quarter of 2022 and was supported by higher customer demand for Air Arabia’s value driven product as well as rigid cost control measures that the airline took since the start of the pandemic”.

“We have continued with our network expansion strategy in the first quarter of this year by adding new routes and new frequencies across all operating hubs as well as continuing with preparations for the launch of our new ventures in Armenia and Pakistan”.

Air Arabia added four new routes from its operating hubs in the UAE, Morocco, and Egypt in the first three months of 2022 and fully resumed its city check-in across the UAE.

Read: Air Arabia Abu Dhabi to start new route to Manama

Read: Air Arabia resumes city check-in service in Sharjah, Ras Al Khaimah and Ajman

Air Arabia Group also unveiled the brand identity of its latest two ventures ‘Fly Arna’ and ‘Fly Jinnah’ in Armenia and Pakistan respectively. Both joint ventures are expected to be operational by mid-year.

“In addition to the lasting impact of Covid-19 on global aviation, the industry continues to face geo-political challenges, higher oil prices and uncertainty towards full economic recovery. Although all these challenges are of a changing nature, we have full confidence in the business model that we operate, the strength of the aviation industry worldwide, as well as its role in supporting regional and global economic recovery,” added Al Thani.