Air Arabia reports record AED 1.6 bn profit in 2024

Sharjah [UAE], February 14 (ANI/WAM): Air Arabia today announced its financial and operational results for the full year ending December 31, 2024.

The airline posted a record pre-tax net profit of AED 1.6 billion, reflecting a 4 per cent increase compared to AED 1.5 billion in 2023. Total turnover for the year surpassed AED 6.63 billion, marking an 11 per cent growth from AED 6 billion in 2023.

In 2024, Air Arabia reinforced its commitment to expansion and operational excellence by growing its network across six hubs and adding 31 new routes. This strategic expansion led to a 13 per cent increase in operational capacity and a 12 per cent rise in total passengers carried, reaching 18.8 million across the group. The airline also reported a 2 per cent increase in average seat load factor, reaching 82 per cent, further underscoring the sustained strong demand for Air Arabia's value-driven, low-cost services.

Air Arabia's Board of Directors has proposed a dividend distribution of 25 per cent of share capital, equivalent to 25 fils per share. This proposal was made during a recent board meeting and is subject to approval by Air Arabia's shareholders at the upcoming Annual General Meeting (AGM).

Sheikh Abdullah bin Mohamed Al Thani, Chairman of Air Arabia, said, "2024 has been a record-breaking year for Air Arabia Group, marked by significant expansion and an increased footprint across all key markets. Building on our strong foundation, we have continued to achieve remarkable financial and operational growth, reaffirming the strength of our business model, the resilience of our management team, and the effectiveness of our strategic vision." (ANI/WAM)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)