Dubai – Mubasher: Air Arabia achieved a net profit of AED 451 million during the first six months (6M) ending 30 June 2022, compared to AED 44 million registered in the corresponding period in 2021.

MENA’s first and largest low-cost carrier operator said the strong results during the first half (H1) of 2022 came as recovery in demand for air travel continued, according to a recent press release.

In the meantime, the airline posted a turnover of AED 2.24 billion during H1-22, a 110% annual hike.

During the second quarter (Q2) of 2022, Air Arabia registered a net profit of AED 160 million, compared to AED 10 million in the same quarter a year earlier.

The company’s turnover for Q2-22 jumped by 125% to AED 1.11 billion, compared to AED 496 million in the year-ago quarter.

Chairman of Air Arabia, Sheikh Abdullah bin Mohamed Al Thani, said: “The strong performance we witnessed in the first quarter of this year continued in the second quarter and was supported by higher customer demand and cost control measures adopted by the management team.”

“The global aviation industry continues to face geo-political challenges, the impact of higher oil prices and uncertainty towards full economic recovery. Despite all these challenges, we have full confidence in the business model we operate, and the crucial role that the aviation industry plays in supporting regional and global economic growth,” Al Thani concluded. 

In H1-22, Air Arabia added 6 new aircraft to its fleet and expanded its network by launching 16 new routes across its hubs in the UAE, Morocco, and Egypt. Air Arabia also unveiled the brand identity of its latest two ventures ‘Fly Arna’ and ‘Fly Jinnah’ in Armenia and Pakistan, respectively.