Air Arabia announced the financial and operational results for the second quarter and first half of 2024, as the airline continued to expand its network, further solidifying its leadership position in the market.
Air Arabia reported a net profit of AED 427 million during the second quarter ending June 30, 2024; 7 percent lower than the AED 459 million recorded in the same period in 2023. The airline achieved a turnover of AED 1.65 billion, marking a 19 percent increase compared to the second quarter of last year. Between April and June 2024, over 4.5 million passengers traveled with Air Arabia Group across its operating hubs, reflecting a 19 per cent increase from the 3.8 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 — rose by 3 percent, reaching 79 percent during the second quarter of 2024.
In the first half of 2024 (January to June), Air Arabia reported a net profit of AED 693 million, reflecting a 13 percent decrease from the AED 801 million recorded in the same period in 2023. In the same period, the airline achieved a turnover of AED 3.19 billion, marking a 13 percent increase compared to the AED 2.82 billion registered in the first half of last year. During this period, over 8.9 million passengers traveled with Air Arabia across its hubs, representing a 16 percent growth compared to the same period last year. The airline’s average seat load factor in the first half of 2024 remained strong at 81 percent.
During the first half of the year, Air Arabia added 3 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 16 new routes across its operating hubs in the UAE, Morocco, Egypt, and Pakistan.
Source: Air Arabia