Sharjah (Union)
Air Arabia announced the results for the first half ending June 30, 2022, as the company continued to record strong commercial and operational results with the continued recovery of demand for air travel.
Air Arabia recorded a net profit of 451 million dirhams during the first half that ended on June 30, 2022, compared to 44 million dirhams recorded in the first half of 2021.
During the same period, the company’s revenues amounted to 2.24 billion dirhams, an increase of 110% compared to the revenues of the first half of last year. The company served more than 5.2 million passengers from January to June 2022, from its five operations centers, an increase of 131% compared to the first half of last year.
The seat occupancy rate – the ratio of the number of passengers to the number of available seats – increased by 11% during the first six months of this year, at a rate of 79%.
During the second quarter ending on June 30, 2022, “Air Arabia” recorded a net profit of 160 million dirhams, compared to 10 million dirhams recorded by the company in the same period of the previous year.
The company’s revenues increased during the second quarter of 2022 by 125%, reaching 1.11 billion dirhams, compared to 496 million dirhams during the same period in the previous year.
Air Arabia provided its services to more than 2.7 million passengers during the period between March and June 2022 from its five centers of operations, an increase of 195% compared to the second quarter of last year, and the seat occupancy rate reached 79%, an increase of 13%. On the results, Sheikh Abdullah bin Mohammed Al Thani, Chairman of the Board of Directors of Air Arabia, said: “The financial and operational performance recorded by Air Arabia during the first half of this year reflects the strength of the business model followed by the company and the quality of the value-added services it provides. to its clients. The strong performance we witnessed at the beginning of this year continued during the second quarter, as it was supported by the increase in customer demand for air travel, in addition to the cost control measures adopted by the company’s management.”
He added: “We continued the expansion strategy in the second quarter of this year by increasing the number of aircraft in the company’s fleet, adding new destinations and increasing the number of flights from all our operations centers, in addition to completing preparations in preparation for launching operations for our new projects in Armenia and Pakistan. Air Arabia continues to pursue an expansion strategy that relies on diversifying its business and investing in innovative services, in addition to adopting more measures to reduce operational costs.
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