Air Arabia has announced its financial results for FY’22, reporting an impressive increase in net profit and passenger numbers. The airline’s net profit for FY’22 was AED 1.2B, a YoY increase of 70%, with turnover reaching AED 5.2B, a YoY increase of 65%. Air Arabia served over 12.8 million passengers in 2022, a 90% increase from the previous year, with an average seat load factor of 80%.
The Board of Directors proposed a 15% dividend distribution of share capital, equivalent to 15 fils per share. These results demonstrate the airline’s successful growth plans and strong financial and operational performance, according to WAM. Commenting on the results, His Excellency Sheikh Abdullah bin Mohammad Al Thani, Chairman of Air Arabia, said, “Air Arabia’s 2022 record profitability is considered the best in the company’s operating history. The remarkable operational and financial performance reflect the carrier’s robust business model, its management team, as well as its discerning growth strategy. Although the year 2022 continued to be challenging, the aviation industry has begun returning to normality as airlines and airports worldwide witnessed faster recovery following the drop in demand cause by the pandemic.”
He continued, “Air Arabia Group maintained its robust growth in 2022 by increasing its fleet size and adding new routes across its global network while launching the operations of its latest joint venture airlines in Armenia and Pakistan. We are proud that Air Arabia’s value-driven product and services now reaches a wider and fast-growing customer base spread across key regional markets.”
