Air Arabia registers over 200 million in net profits for Q3

Air Arabia's financial results for the third quarter of 2021 registered a strong net profit of AED 209 million for the three months, an increase of 575 per cent compared to the same period last year.

The company’s turnover for the same quarter increased by 174 per cent to AED 804 billion, compared to AED 294 million in the corresponding period last year.

Air Arabia served over 1.9 million passengers in the third quarter from its five hubs in the UAE, Morocco and Egypt, an increase of 190 per cent compared to the number of passengers carried in the same quarter last year.

The operational and financial results achieved this year signals a steady recovery that the industry witnessed and was driven by the ease of travel restrictions and the demand for air travel. This is the fourth consecutive profitable quarter that Air Arabia managed to register since the pandemic hit the aviation industry.

Sheikh Abdullah bin Mohamed Al Thani, Chairman of Air Arabia, said, "This performance is supported by the gradual resumption of operations witnessed this year, especially in the third quarter, as well as the cost control measures adopted by the management team since the start of the pandemic."

During the first nine months of the year, Air Arabia added 43 new routes to its global network from its hubs in the UAE, Morocco, and Egypt. In September, Air Arabia Group signed an agreement with Lakson Group, one of Pakistan's leading business conglomerates, to launch a new low-cost airline based in Pakistan.

Earlier in July, Air Arabia Group also announced the signing of an agreement with the Armenian National Interests Fund (ANIF) to launch Armenia’s national airline "Fly Arna".

The carrier also partnered with Etihad Guest, the loyalty program of Etihad Airways to allow members of both schemes to benefit from reciprocal points and miles transfers.

Al Thani concluded by saying, "While air travel volatility at current times remains a reality, we are confident of the global efforts made in this regard and hopeful that the steady recovery witnessed in the third quarter continues. Nonetheless, Air Arabia remains committed to providing customers with the world’s best value-driven air travel while focusing on operational efficiency and cost control."