Air Arabia reports Q2 net profit of $116.25m

Air Arabia, the Middle East and North Africa's first and largest low-cost carrier (LCC) operator, has reported strong financial and operational results for Q2 and first half of 2024, as the airline continued to expand its network. Air Arabia reported a net profit of AED427m ($116.25m) during Q2 ending June 30, 2024 - 7% lower than the AED459m recorded in the same period in 2023. The airline achieved a turnover of AED1.65b, marking a 19% increase compared to Q2 last year. Between April and June 2024, over 4.5m passengers travelled with Air Arabia Group across its operating hubs, reflecting a 19% increase from the 3.8m passengers carried in the same quarter of the previous year. The airline’s average seat load factor — representing the percentage of available seats occupied — rose by 3%, reaching an impressive 79% during Q2 2024. Commenting on the results, Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia, said: “The solid net profit recorded in Q2 was driven by robust passenger demand and revenue growth, underscoring the strong fundamentals of our business and the enduring appeal of our value-driven offerings to customers."<br/>