Air Arabia's revenues amounted to 342 million dirhams, an increase of 17% in the first quarter of 2023.

Air Arabia PJSC, the first and largest low-cost airline in the Middle East and North Africa region, today announced financial and operating results and a net profit of AED 342 million for the three months ending March 31, 2023, an increase of 17% compared to AED 291 million. dirhams recorded in the first quarter of 2022. During the same period, the company's revenues amounted to 1.42 billion dirhams, an increase of 27% compared to the revenues of the first quarter of last year.

The company carried more than 3.9 million passengers on its fleet in the first quarter of 2023 through its seven operating centers in the United Arab Emirates, Morocco, Egypt, Armenia and Pakistan, an increase of 59% compared to the number of passengers carried during the first quarter of last year. The seat occupancy rate (the ratio of the number of passengers to the number of available seats) increased during the first three months of 2023 by 8%, recording an average of 85%.

Commenting on the results, Sheikh Abdullah bin Mohammed Al Thani, Chairman of the Board of Directors of Air Arabia, said:

The strong financial results achieved by Air Arabia in the first three months of this year reflect our constant commitment to excellence in operational management, the cost control measures adopted by the company, as well as the efficiency of the management team. Despite continued economic challenges and geopolitical uncertainty, our focus on increasing revenue margin and maintaining operational efficiency has helped the company achieve strong financial and operational results. We are confident in the company's ability to continue facing commercial and economic challenges with sufficient flexibility and take advantage of the available opportunities for growth while ensuring the provision of the best added value to our customers and shareholders.

During the first quarter of this year, Air Arabia added 9 new destinations from its seven operating centers in the UAE, Morocco, Egypt, Armenia and Pakistan, to provide services with a fleet of 68 new Airbus A320 and A321 aircraft. In January 2023, Air Arabia was ranked among the top 20 safest low-cost airlines according to Airline Ratings 2023. The company was also awarded the best low-cost airline of the year at the 2023 Aviation Achievement Awards.