Air Arabia reports solid first half profit as travel demand surges

Air Arabia has reported a strong first half (January to June) 2022 as recovery in demand for air travel continued.

The Middle East & North Africa’s first and largest low-cost carrier operator's net profit reached AED 451 million for the first six months ending June 30, 2022, compared to AED 44 million registered in the same period last year.  

The airline posted a turnover of AED 2.24 billion in H1 2022, which is a 110 per cent increase year-on-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 at 79 per cent on average.

During the second quarter ending June 30, 2022, Air Arabia registered a net profit of AED 160 million, compared to AED 10 million for the same period last year.

The company’s turnover for Q2 2022 increased by 125 per cent as demand for air travel increased registering an AED 1.11 billion, compared to AED 496 million 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 per cent, while the airline’s average seat load factor increased by 13 per cent during Q2 2022.

"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," said Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia.

During the first half of the year, Air Arabia added 6 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’ in Armenia and ‘Fly Jinnah’ in Pakistan.

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

Air Arabia reports solid first half 2022 net profit of AED 451 million and turnover of AED 2.24 billion. More than 5.2 million passengers carried, an increase of 131%. Read more https://t.co/gUis7dVuEN pic.twitter.com/xES9skbrqH

— Air Arabia (@airarabiagroup) August 10, 2022