Air Arabia reports first quarter 2023 net profit of
AED 342 million, up 17%
• First quarter turnover increased 27% reaching AED 1.42 billion, and 9 new routes
added to the airline’s global network.
Sharjah, UAE; May 08, 2023: Air Arabia (PJSC), the Middle East & North Africa’s first
and largest low-cost carrier operator, today reported a strong first quarter 2023 financial
and operational, as the airline continued to expand its network and further strengthening
its leadership position in the market.
Air Arabia reported a net profit of AED 342 million for the first three months ending March
31, 2023, an increase of 17 percent compared to AED 291 million registered in the
corresponding quarter in 2022. In the same period, the airline posted a turnover of AED
1.42 billion, a 27 percent increase in turnover compared to the first quarter of last year.
Air Arabia’s strong performance in the first quarter of 2023 reflects the airline’s ability to
constantly deliver solid performance while navigating through challenging trading
environments. More than 3.9 million passengers flew with Air Arabia Group between
January and March 2023 across the carrier’s seven operating hubs in the UAE, Morocco,
Egypt, Armenia and Pakistan, an increase of 59 per cent compared to a total of 2.4 million
passengers carried in the first quarter of last year. The airline’s average seat load factor –
or passengers carried as a percentage of available seats – during the first three months
of 2023 stood at an impressive 85 per cent, up 8 per cent compared to the same period
last year.
Commenting on the results, Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air
Arabia, said: “Air Arabia’s strong financial results in the first three month of this year
reflects our unwavering commitment to operational excellence, rigid cost control
measures, and our prudent management team. Despite the ongoing global economic and
geo-political uncertainty, our focus on driving profitability and maintaining an efficient
operation has enabled us to deliver solid financial and operational results. We are
Classification: Externalconfident in our ability to navigate through market challenges and capitalize on new
opportunities, while ensuring we continue to deliver the best value for our customers and
shareholders”.
He added: “We remain steadfast in our growth plans; we will continue to build on our
strengths and explore new opportunities that will enable us to further expand the reach of
our value-driven product and thus, enabling more customers and communities to benefit
from our affordable and reliable air travel offering.”
Air Arabia added 9 new routes to its global network from its seven hubs in the UAE,
Morocco, Egypt, Armenia, and Pakistan during the first three months of 2023, serving
passengers with its modern fleet of 68 new Airbus A320 and A321 aircraft. In January, Air
Arabia was marked among the top 20 safest low-cost airlines as per Airline Rating 2023
and was awarded “Low-Cost Airline of the year” at Aviation Achievement Awards 2023 in
March. As part of its commitment to giving back to the community, Air Arabia has also
organized its latest CSR initiatives “Towards Greener Future” which focused on making a
tangible positive impact on the environment.
-Ends-
@airarabiagroup
#AirArabia
#Q1Results
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). Air Arabia commenced operations in October 2003 and currently operates a total fleet of 59
new Airbus A320 & A321 aircraft, serving some 190 routes from five hubs in the UAE, Morocco and Egypt.
Air Arabia is an award-winning airline 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.com
Classification: External

Sentiment: positive