Air Arabia Posts Record Dh1.6B Profit in 2024

3 weeks ago Editor

Air Arabia posts a record Dh1.6 billion profit in 2024, with revenue rising 11% and passenger numbers up 12% to 18.8 million.

Air Arabia has reported a record-breaking Dh1.6 billion pre-tax profit for 2024, marking a significant financial milestone. The airline’s full-year revenue surged by 11%, reaching Dh6.6 billion, fueled by a 12% rise in passenger numbers, which totaled 18.8 million.

The impressive growth was driven by a robust 56% increase in net profit in Q4, amounting to Dh351 million, with quarterly revenue exceeding Dh1.65 billion. The airline attributed its success to strategic network expansion across six hubs and the addition of 31 new routes, resulting in a 13% rise in operational capacity.

With an average seat load factor improving by 2% to 82%, the airline reaffirmed its position as a key player in the low-cost aviation market. Despite global economic and geopolitical challenges, Air Arabia’s commitment to expansion and operational efficiency has fueled its continued success.

The board of directors has proposed a 25 fils per share dividend, highlighting the airline’s strong financial performance and optimistic outlook for future growth.