- Third quarter 2023 net profit increases 26% reaching AED 522 million; and 21% increase in number of passengers carried.
- The financial and operational results are an all-time record high for the carrier.
Sharjah, UAE; November 13, 2023: Air Arabia (PJSC), the Middle East & North Africa’s first and largest low-cost carrier operator, today announced a record financial and operational results for the third quarter and first nine months ending September 30, 2023.
Air Arabia reported an all-time record AED 1.32 billion net profit the first nine months ending September 30, 2023, an increase of 53 per cent compared to the same period last year, while revenue for the first nine months increased by 16 per cent reaching an impressive AED 4.45 billion.
First Nine Months 2023 Performance:
| AED | 9M 2023 | 9M 2022 | % |
| Revenue | AED 4.45 billion | AED 3.84 billion | 16% |
| Passenger Numbers*all hubs* | 12.4 million | 9.1 million | 36% |
| Seat Load Factor | 80% | 79% | 2% |
| Net Profit | AED 1.32 billion | AED 867 million | 53% |
Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, said: “Air Arabia maintained its robust growth in the first nine months of this year by expanding operations across its seven operational hubs and introducing new routes to enhance the carrier’s global network. The increase in capacity during this period was complemented by an impressive surge in passenger numbers, reaching a total of 12.4 million, and marking a remarkable 36 per cent increase compared to the first nine months of last year. Air Arabia remains unwavering in its commitment to diversify and expand its business, while simultaneously investing in innovative products that aim to enhance every aspect of our customers’ journey.”
Air Arabia also reported record profitability of AED 522 million for the third quarter ending September 30, 2023; an increase of 26 per cent compared to the same period last year, while revenue for the third quarter 2023 reached an impressive AED 1.63 billion.
Third Quarter 2023 Performance:
| AED | 3Q 2023 | 3Q 2022 | % |
| Revenue | AED 1.63 billion | AED 1.6 billion | 1% |
| Passenger Numbers*all hubs* | 4.7 million | 3.9 million | 21% |
| Seat Load Factor | 80% | 80% | . |
| Net Profit | AED 522 million | AED 416 million | 26% |
Al Thani continued: “Air Arabia’s record performance in the third quarter of this year was driven by robust passenger demand and effective cost control measures implemented by the management team. The remarkable performance is a testament to Air Arabia’s operational and commercial strategy, demonstrating the company’s steadfast commitment to consistently providing genuine value to its customers.”
