Air Arabia's second-quarter net profit after tax fell 21% to Dh390 million, with income tax of Dh37 million.
The company's direct costs increased by 30% in the second quarter to exceed AED 1.2 billion, despite a 19% increase in revenues to AED 1.7 billion.
First-half profits also declined by 21% to AED 631 million.
The company said in its statement to the Dubai Financial Market that the continued economic challenges, global geopolitical variables, and rising fuel prices, in addition to the impact of currency fluctuations witnessed by some major markets and supply chain challenges that led to increased inflationary pressures, are factors that affected business results.
Passenger numbers in the first half grew by 16% to reach 8.9 million passengers, with a seat occupancy rate of 81%.
