Air Arabia posts record Q3 net profit of $153.55m, up 8%

Air Arabia, the Middle East and North Africa's first and largest low-cost carrier (LCC), has announced record financial and operational results for the third quarter and first nine months of 2024. Air Arabia reported a net profit of AED564m ($153.55m) for the third quarter ending September 30, 2024, an 8% increase compared to AED522m in the same period of 2023. The airline achieved a turnover of AED1.78b, marking a 10% increase compared to the third quarter of last year. From July to September 2024, over 5.1m passengers travelled with Air Arabia Group across its operating hubs, reflecting an 8% increase from the 4.7m passengers carried in the same quarter of the previous year. The airline’s average seat load factor — representing the percentage of available seats occupied — increased by 2%, reaching an impressive 81% during the third quarter of 2024, underscoring the strong demand for Air Arabia’s services. Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia, said: “Air Arabia’s record net profit in the third quarter, coupled with strong growth in revenue and passenger demand, is a testament to the strength of the business model we operate and the true value we offer to our customers."<br/>