Air Arabia’s 2024 profits up 12%...

Record third-quarter net profit hits US$153 million

Air Arabia, the Middle East and North Africa's largest low-cost carrier, has had an exceptional year to date financially, with the airline recording record results for first nine months of 2024.

Its net profit for the third quarter ending 30 September 2024 was US$153 million; an 8% increase compared to the same period in 2023.

The airline achieved a turnover of US$484 million, marking a 10% increase compared to the third quarter of last year.

From July to September 2024, more than 5.1 million passengers travelled with Air Arabia Group across its operating hubs, reflecting an 8% increase from the 4.7 million passengers carried in the same quarter of the previous year.

The airline’s average seat load factor — representing the percentage of available seats occupied — increased by 2%, reaching an impressive 81% during the third quarter of 2024.

Commenting on the results, Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia, said: “Air Arabia’s record net profit in the third quarter, coupled with strong growth in revenue and passenger demand, is a testament to the strength of the business model we operate and the true value we offer to our customers."

In the first nine months of 2024, Air Arabia reported a net profit of US$340 million, reflecting a 5% decrease from that recorded in the same period of 2023.

Al Thani concluded: “As we look to the remainder of the year, we remain focused on strategic growth, disciplined cost management, and delivering exceptional value to our customers.”

During the first nine months of the year, Air Arabia added 6 new aircraft to its fleet bringing it to a total of 77 owned and leased Airbus A320 and A321 aircraft.

During the same period, the carrier has expanded its network by launching 22 new routes across its operating hubs in the UAE, Morocco, Egypt and Pakistan.

For more information, visit www.airarabia.com

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