The first and biggest low-cost carrier (LCC) operator in the Middle East and North Africa, Air Arabia (PJSC), reported record financial and operational results for the third quarter and first nine months of 2024 on Monday.
For the third quarter that ended on September 30, 2024, Air Arabia reported a net profit of Dhs564 million, which was 8% higher than the Dhs522 million it made during the same time in 2023. In comparison to the third quarter of previous year, the airline’s turnover increased by 10% to Dhs1.78 billion.
Over 5.1 million passengers used Air Arabia Group’s operating hubs between July and September 2024, an 8% increase over the 4.7 million passengers carried during the same period the year before. The typical seat on the airline 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.
“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,” said Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia, in response to the results.
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