Air Arabia has announced record financial results for the full year ending December 31, 2023. The airline has achieved double-digit growth in profitability and passenger numbers.
Air Arabia has reported a record net profit of AED 1.5 billion for the full year ending December 31, 2023; representing a 27% increase compared to the AED 1.2 billion recorded in 2022. Moreover, the airline's turnover for the same period reached AED 6 billion, reflecting a 14% increase compared to the AED 5.2 billion registered in 2022.
In the fourth quarter ending December 31, 2023, Air Arabia reported a net profit of AED 225 million, 37% less than the AED 356 million recorded in the same quarter 2022. The turnover for the last quarter of 2023 increased by 11% to reach AED 1.54 billion and the seat factor for the quarter remained strong at 81%.
Source: Air Arabia