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Air Arabia takes off in Q1 2023 with 17% profit rise

Air Arabia A320 aeroplane Air Arabia
Sharjah-based low-cost airline Air Arabia posted a turnover of AED1.42 billion, a 27% increase year-on-year

Sharjah-based Air Arabia reported a 17 percent increase in net profit to AED342 million ($93.14 million) in the first quarter of 2023, compared to AED291 million a year earlier.

The low-cost airline posted a turnover of AED1.42 billion, a 27 percent increase year-on-year.

More than 3.9 million passengers flew between January and March across the carrier’s operating hubs in the UAE, Morocco, Egypt, Armenia and Pakistan It saw an increase of 59 percent, compared to 2.4 million passengers carried in the first quarter of last year.

The airline’s average seat load factor, or passengers carried as a percentage of available seats, during the period stood at 85 percent, up eight percent year-on-year.

Sheikh Abdullah bin Mohammad Al Thani, chairman of Air Arabia, said that a focus on driving profitability and maintaining an efficient operation helped the airline deliver solid results despite the ongoing global economic and geopolitical uncertainty.

Air Arabia added nine new routes to its global network in the first quarter, serving passengers with its fleet of 68 new Airbus A320 and A321 aircraft.