Air Arabia reports net profit of Dhs451m in H1 2022

Air Arabia reported a net profit of Dhs451m for the first six months ending June 30, compared to Dhs44m registered in H1 2021.

In the same period, the airline posted a turnover of Dhs2.24bn, a 110 per cent increase compared to H1 last year.

More than 5.2 million passengers flew with Air Arabia between January and June 2022 across the carrier’s five hubs, an increase of 131 per cent compared to the same period last year.

The airline’s average seat load factor – or passengers carried as a percentage of available seats – increased by 11 per cent during the first six months of 2022 and stood an average at 79 per cent.

Q2 milestones

During the second quarter ending June 30, Air Arabia registered a net profit of Dhs160m, compared to Dhs10m net profit reported for the same period last year.

The company’s turnover for the second quarter of 2022 increased by 125 per cent as demand for air travel increased registering an Dhs1.11bn, compared to Dhs496m in the corresponding period last year.

More than 2.7 million passengers flew with Air Arabia between March and June 2022 across the carrier’s five hubs, an increase of 195 percent compared the same quarter last year. The airline’s average seat load factor increased by 13 per cent during the second quarter of 2022 and stood at an impressive average of 79 per cent.

Highlights of H1 2022

During the first half of the year, Air Arabia added six new aircraft to its fleet and expanded its network by launching 16 new routes across its hubs in the UAE, Morocco and Egypt.

Air Arabia also unveiled the brand identity of its latest two ventures ‘Fly Arna’ and ‘Fly Jinnah’ in Armenia and Pakistan respectively.

In June, Fly Arna received its ‘Air Operating Certificate’ and in July, with the carrier launching operations with direct flights connecting Yerevan to Hurghada and Sharm el-Sheikh in Egypt.

Air Arabia fully resumed its city check-in across the UAE in H1 2022 and was also named ‘Airline of the Year’ at the Air Transport Awards 2022.

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

In March, the carrier won the “Four-Star Low-Cost Carrier 2022” rating by APEX – The Airline Passenger Experience Association.

Sheikh Abdullah Bin Mohamed Al Thani, chairman of Air Arabia, said: “The strong performance we witnessed in the first quarter of this year continued in the second quarter and was supported by higher customer demand and cost control measures adopted by the management team.”

He added: “We have continued with our network expansion strategy in the second quarter of this year by increasing the fleet size, 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 remains focused on diversifying and expanding its business while investing in product innovation and adopting further measures to control costs.”