Air Arabia reported a net profit of 693 million dirhams

According to Amac News: In the report of Air Arabia, in the second quarter ending June 30, 2024, it had a net profit of 427 million dirhams.
According to the report, the profit obtained is 7 percent less than the 459 million dirhams recorded in the same period in 2023.
The turnover of this airline reached 1.65 billion dirhams, which shows a 19% increase compared to the second quarter of last year.
Air Arabia said that between April and June 2024, more than 4.5 million passengers traveled with the Air Arabia Group at its operating hubs, representing a 19 percent increase over the 3.8 million passengers in the same quarter last year.
In the first half of 2024 (January to June), Air Arabia reported a net profit of 693 million dirhams, representing a 13% decline from the 801 million dirhams recorded in the same period in 2023.
During the same period, the airline turned a net profit. The turnover of 3.19 billion dirhams represents an increase of 13 percent compared to 2.82 billion dirhams recorded in the first half of last year.
During this period, more than 8.9 million passengers traveled with Air Arabia in its hubs, which represents a 16% growth compared to the same period last year. The average seat load factor of this airline in the first half of 2024 remains at 81%.
In the first half of the year, Air Arabia added 3 new aircraft to its modern fleet, reaching a total of 77 owned and leased Airbus A320 and A321 aircraft.
Meanwhile, the company has expanded its network by launching 16 new routes at its operational hubs in the UAE, Morocco, Egypt and Pakistan. In March, Air Arabia was ranked as the third highest operating margin worldwide in Airline Weekly's list of the world's most profitable airlines.
Airlines liquidity for the first half of 2024 reached 4.8 billion dirhams in cash and cash equivalents.