631 million dirhams, half-time profits Air Arabia… 8.9 million passengers, growth of 16% | Al Khaleej Newspaper

In the first half of this year, in the period between January and June, Air Arabia recorded net profits after tax of 631.34 million dirhams, a decrease of 21% compared to 800.97 million dirhams recorded in the same period of the year before.

Air Arabia’s revenue in the first half was 3.19 billion dirhams, an increase of 13% compared to 2.82 billion dirhams recorded in the first half of the previous year.

Air Arabia provided its services to more than 8.9 million passengers in the period between January and June 2024 from all its operating bases, an increase of 16% compared to the same period last year. The seat occupancy rate in the first half maintained a high level of 81%.

Sheikh Abdullah bin Mohammed Al Thani, Chairman of the Board of Directors of Air Arabia, said: The strong profits recorded by Air Arabia in the second quarter of this year were driven by strong demand for air travel and revenue growth, which showing the strong foundations. of the company and the value-added services we provide to our customers.

He said: Despite high demand for air travel, the aviation sector continued to face slow growth in profit margins and rising costs in the second quarter of this year, driven by ongoing economic challenges, global geopolitical changes, and high fuel prices, in addition. to the impact of currency fluctuations seen in some key markets, and supply chain challenges that caused more pressure from inflation. Air Arabia’s ability to maintain its growth momentum and achieve strong profitability amid these challenges reflects the flexibility of our business model and the ability of the management team.

• The second quarter

Air Arabia recorded net profits of 390.17 million dirhams in the second quarter ending on June 30, 2024, a decrease of 15% compared to 459.3 million dirhams recorded by the company in the same period of the previous year. The company’s revenue in the second quarter was 1.65 billion dirhams, an increase of 19% compared to the revenue of the second quarter of last year.

Air Arabia carried more than 4.5 million passengers on board its fleet in the period between April and June 2024 across its operational bases, an increase of 19% compared to the 3.8 million passengers carried in the second quarter of last year, while the seat occupancy rate increased (the ratio between the number of passengers and the number of seats available in the same period increased from 3% to 79 %.