Air Arabia reports record first nine months net profit of
AED 1.32 billion, up 53%
• Third quarter 2023 net profit increases 26% reaching AED 522 million; and 21%
increase in number of passengers carried.
• The financial and operational results are an all-time record high for the carrier.
Sharjah, UAE; November 13, 2023: Air Arabia (PJSC), the Middle East & North Africa’s first and largest
low-cost carrier operator, today announced a record financial and operational results for the third quarter
and first nine months ending September 30, 2023.
Air Arabia reported an all-time record AED 1.32 billion net profit the first nine months ending September
30, 2023, an increase of 53 per cent compared to the same period last year, while revenue for the first
nine months increased by 16 per cent reaching an impressive AED 4.45 billion.
First Nine Months 2023 Performance:
AED 9M 2023 9M 2022 %
Revenue AED 4.45 billion AED 3.84 billion 16%
Passenger Numbers*all hubs* 12.4 million 9.1 million 36%
Seat Load Factor 80% 79% 2%
Net Profit AED 1.32 billion AED 867 million 53%
Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, said: “Air Arabia maintained its robust
growth in the first nine months of this year by expanding operations across its seven operational hubs
and introducing new routes to enhance the carrier’s global network. The increase in capacity during this
period was complemented by an impressive surge in passenger numbers, reaching a total of 12.4 million,
and marking a remarkable 36% increase compared to the first nine months of last year. Air Arabia
remains unwavering in its commitment to diversify and expand its business, while simultaneously
investing in innovative products that aim to enhance every aspect of our customers' journey."
Air Arabia also reported record profitability of AED 522 million for the third quarter ending September 30,
2023; an increase of 26% compared to the same period last year, while revenue for the third quarter
2023 reached an impressive AED 1.63 billion.Third Quarter 2023 Performance:
AED 3Q 2023 3Q 2022 %
Revenue AED 1.63 billion AED 1.6 billion 1%
Passenger Numbers*all hubs* 4.7 million 3.9 million 21%
Seat Load Factor 80% 80% .
Net Profit AED 522 million AED 416 million 26%
Al Thani continued: “Air Arabia’s record performance in the third quarter of this year was driven by robust
passenger demand and effective cost control measures implemented by the management team. The
remarkable performance is a testament to Air Arabia’s operational and commercial strategy,
demonstrating the company’s steadfast commitment to consistently providing genuine value to its
customers”.
Nine Months 2023 Highlights:
Fleet
• Two leased Airbus A320 aircraft were added during the third quarter bringing the total fleet to 72
leased and owned Airbus A320 and A321.
• Four short-term leased Airbus A320 aircraft were added to Morrocco hub during the third quarter
to support summer season operations.
Network
• Air Arabia added a total of 17 new routes to its global network in the first nine months 2023
bringing the total network size to 206 routes from seven operating hubs.
• The capacity available across all hubs increased by 33% during the first nine months 2023
compared to the same period last year.
Digital Transformation
• Full implementation of an Enterprise Resource Planning (ERP) to drive automation and efficiency.
• Rollout of Electronic Tech Logbook and upgrade of Electronic Flight Bag equipment to achieve a
paperless and efficient process across operations.Liquidity
• AED 4.9 billion in cash and cash equivalent.
Recognition
• Air Arabia was awarded “Low-Cost Airline of the year” and ranked the highest operating margin
in the world by Airline Weekly as well as first on the Airfinance journal top 100 airlines worldwide
for four consecutive years.
• Fly Jinnah tops Pakistan Civil Aviation ranking for outstanding punctuality and regularity.
• Fly Arna successfully obtains IOSA certificate.
Social Responsibility
• A new medical clinic was established in Tajikistan in the first nine months 2023, joining the 15
schools and clinics that Air Arabia’s corporate social responsibility program “Charity Cloud’
currently runs across 12 countries.
Outlook
Al Thani concluded: “The demand for our value-driven product continues to be solid and we remain
cautiously optimistic as we continue to navigate the ever-changing landscape of the current geopolitical
and macroeconomic environment. Equally, we remain focused on innovation, efficiency, and cost control
across the breadth of our operations. While challenges persist in the near term, we have full confidence
in the business model that we operate, our ability to continue driving growth, and our product offering that
continuously delivers optimum value to our customer”.
-Ends-
Notes: *All hubs*: Air Arabia Group seven hubs in the UAE, Morocco, Egypt, Armenia, and Pakistan.
@airarabiagroup
#AirArabia
#Q3ResultsAbout Air Arabia:
Air Arabia (PJSC), listed on the Dubai Financial Market, is the Middle East and North Africa’s leading low-cost carrier (LCC)
operator. Air Arabia commenced operations in October 2003 and currently operates a total fleet of 72 new Airbus A320 & A321
aircraft, serving some 206 routes from seven hubs in the UAE, Morocco, Egypt, Armenia (Fly Arna), and Pakistan (Fly Jinnah).
Air Arabia Group is an award-winning airline operator that focuses on offering comfort, reliability, and value-for-money air travel.
For further information, please visit: www.airarabia.com.
For more information please contact:
Press Office
Air Arabia PJSC
Sharjah, UAE
Tel: 971-6-5088977
Email: pressoffice@airarabia.comPress release
Air Arabia places order for 240 LEAP-1A engines
• Agreement to power the carrier’s order of 120 Airbus A320neo family of aircraft
DUBAI, UAE – 14 November 2023 – Air Arabia, the Middle East, and North Africa first and largest
low-cost carrier operator, announced today a significant milestone in its ongoing commitment to
enhancing its fleet and operations. Following a signing ceremony attended by senior executive from
CFM and Air Arabia during Dubai Airshow 2023, the airline has announced the order for 240 CFM
LEAP-1A engines to power its existing order of 120 Airbus A320neo family aircraft, including brand
new A321XLR. The agreement includes a multi-year services agreement and spare engines.
The deal, with a total book value exceeding US $3.36 billion (listed price), will support Air Arabia’s
fleet growth and future expansion. The state-of-the-art LEAP-1A engines are set to propel Air
Arabia’s existing order of 120 Airbus A320-neo family aircraft, which is comprised of 73 A320neo,
27 A321neo and 20 A321XLR airplanes which are scheduled for delivery in 2025.
Air Arabia became a CFM customer in 2003 as the airline kicked off operations with a CFM56-5B-
powered Airbus A320. The company currently operates a total fleet of 71 Airbus A320ceo and A321
neo-LR aircraft.
“We are delighted to expand our partnership with CFM International. This engine order marks a
significant milestone in Air Arabia's journey of growth and advancement” said Adel Al Ali, Group
Chief Executive Officer of Air Arabia. “The efficiency and performance of the CFM engine will play a
crucial role in supporting our fleet expansion strategy which includes the most efficient fuel
consumption and minimizing the environmental footprint. This investment underscores our
unwavering commitment to achieving higher levels of operational efficiency, maintaining reliability,
and actively contributing to a more sustainable aviation industry.”
“We are honored to further expand our longstanding partnership with Air Arabia through today’s
order of 240 engines,” said Gaël Meheust, CEO of CFM International. “This renewed trust is a
valuable recognition of LEAP engine performance. We are looking forward to introducing the LEAP
into their fleet and to supporting the region with our unmatched capability.”
The LEAP engine family has the fastest accumulations of flight hours in commercial aviation history,
amassing more than 30 million engine flight hours and 13 million flight cycles.
As the airline completes 20 years of successful operations, Air Arabia continues to drive industry
standards while maintaining its operations excellence and customer experience. This engine
acquisition is a testament to the airline’s dedication to innovation and excellence in the low-cost
industry.
The advanced CFM LEAP engine family provides 15 to 20 percent better fuel consumption and
lower CO2 emissions, as well as a significant improvement in noise compared to previous
CFM, CFM56, LEAP, and the CFM logo are trademarks of CFM International, a 50/50 joint company between Safran Aircraft Engines and GE
Classification: Externalgeneration engines. Since its entry into service in 2016, the LEAP engine allowed our customers to
save more than 20 million tons of CO2*.
*Compared to same flights powered by CFM56 engines.
-END-
About CFM International
A 50/50 joint venture between GE Aerospace and Safran Aircraft Engines, CFM International has
redefined international cooperation and helped change the course of commercial aviation since its
founding in 1974. Today, CFM is the world's leading supplier of commercial aircraft engines with a
product line that sets the industry standard for efficiency, reliability, durability, and optimized cost
of ownership. CFM International produces the LEAP family of engines and supports LEAP and
CFM56 fleets for operators worldwide. www.cfmaeroengines.com
About Air Arabia:
Air Arabia (PJSC), listed on the Dubai Financial Market, is the Middle East and North Africa’s leading
low-cost carrier (LCC) operator. Air Arabia commenced operations in October 2003 and currently
operates a total fleet of 71 new Airbus A320 & A321 aircraft, serving some 190 routes from seven
hubs in the UAE, Morocco, Egypt, Armenia (Fly Arna), and Pakistan (Fly Jinnah). Air Arabia Group is
an award-winning airline operator that focuses on offering comfort, reliability, and value-for-money
air travel. For further information, please visit: www.airarabia.com
# # #
CFM, CFM56, LEAP, and the CFM logo are trademarks of CFM International, a 50/50 joint company between Safran Aircraft Engines and GE
Classification: External

Sentiment: positive