Air Arabia’s Q1 net profit surges 17% to hit $93m

Air Arabia, a leading low-cost carrier operator in the Mena region, has reported a net profit of AED342m ($93m) for Q1 of 2023, an increase of 17% compared to AED291m registered in Q1 2022. In the same period, the airline posted a turnover of AED1.42b, a 27% increase in turnover compared to Q1 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 3.9m 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% compared to a total of 2.4m 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%, up 8% compared to the same period last year.<br/>