Air Arabia, Q2-2022 net profit reached AED 160mn and turnover increased by 125% exceeding AED 1.11bn
Airlines Air Arabia recently reported a strong H1-2022 as recovery in demand for air travel continued.
They reported a net profit of AED 451mn for the first six months ending June 30, 2022, compared to AED 44mn registered in the corresponding first half 2021. In the same period, the airline posted a turnover of AED 2.24bn, a 110 per cent increase compared to the corresponding first half of last year.
More than 5.2 million passengers flew with airlines in H1-2022 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 increased by 11 per cent during the first six months of 2022 and stood an average at 79 per cent.
During Q2-2022, Air Arabia registered a net profit of AED 160mn, compared to AED 10mn 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 AED 1.11bn, compared to AED 496mn in the corresponding period last year.
“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,” asserted Sheikh Abdullah Bin Mohamed Al Thani, Chairman, Air Arabia.