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Air Arabia announces net profit of $79.21 million in the first quarter of 2022 thanks to the resumption of travel

Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier operator, reported a strong first quarter (January-March) 2022 on Wednesday as demand for air travel recovers was continuing.

Air Arabia recorded a net profit of $79.21 million (291 million Dh) for the first three months ending March 31, 2022, an increase of 756% compared to the $9.26 million (34 million of Dh) recorded in the corresponding quarter in 2021. In the same period, the airline recorded a turnover of 305 million dollars (1.12 billion dirhams), representing a 97% increase in turnover compared to the first quarter of last year.

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The financial and operational results achieved in the first quarter were supported by the continued recovery in air travel demand.

More than 2.4 million passengers flew with Air Arabia between January and March 2022 across the carrier’s five hubs, an increase of 86% from a total of 1.3 million passengers carried in the first quarter of the year. last year.

The airline’s average seat load factor – or passengers carried as a percentage of available seats – in the first three months of 2022 was 79%, up 4% from the same period. last year.

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

“We continued our strategy of network expansion in the first quarter of this year by adding new routes and new frequencies on all operating centers, as well as continuing preparations for the launch of our new businesses in Armenia and in Pakistan,” he added.

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

Air Arabia Group also unveiled the brand identity of its two latest companies “Fly Arna” and “Fly Jinnah” in Armenia and Pakistan respectively. The two joint ventures should be operational by the middle of the year.

Al Thani concluded: “In addition to the lasting impact of COVID-19 on global aviation, the industry continues to face geopolitical challenges, rising oil prices and uncertainty of a full economic recovery. While all of these challenges are changing in nature, we have full confidence in the business model we operate, the strength of the aviation industry globally, and its role in supporting regional and global economic recovery.

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