In the first quarter of 2024, Air Arabia recorded a net profit of AED 266 million, a slight decrease from the same period last year but still a strong performance given the prevailing economic and geopolitical uncertainties. Revenue surged by 8 percent to AED 1.54 billion, reflecting the airline’s ongoing network expansion and increased passenger traffic. Notably, Air Arabia Group served over 4.4 million passengers during the three-month period, a 13 percent increase over the previous year.
Air Arabia’s impressive financial results stem from robust passenger demand and revenue growth. The airline’s average seat load factor remained high at 85 percent throughout the first quarter, indicating efficient operations despite higher inflationary costs affecting the aviation industry.
Despite the challenges, Air Arabia remains focused on delivering value to its customers and shareholders. The airline has expanded its global network with two additional routes from its operational bases and continues to invest in its fleet. In March, Air Arabia shareholders approved a 20% dividend distribution for the year 2023.
Air Arabia’s strong first-quarter performance and ongoing expansion plans demonstrate its resilience and ability to navigate industry challenges. The airline is well-positioned to capitalize on future growth opportunities and deliver consistent returns to its stakeholders.
