Air Arabia, the Middle East and North Africa’s largest low-cost airline, has announced a record-breaking pre-tax net profit of Dh1.6 billion for the year ending December 31, 2024, reflecting a 4% increase from Dh1.5 billion in 2023. The airline also posted a total revenue of Dh6.63 billion, marking an 11% growth compared to the previous year.
The airline’s expansion strategy played a crucial role in this success. Air Arabia added 31 new routes across its six hubs, increasing its operational capacity by 13% and boosting total passenger numbers by 12% to 18.8 million for the year. The average seat load factor also rose by 2% to 82%, highlighting strong and sustained demand for the airline’s cost-effective travel services.
In recognition of its strong performance, Air Arabia’s Board of Directors has proposed a dividend payout of 25% of share capital, equivalent to 25 fils per share. The proposal awaits approval from shareholders at the upcoming Annual General Meeting (AGM).
Strong Performance Despite Challenges
Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, described 2024 as a “record-breaking year,” emphasizing the airline’s expansion and growing market presence.
“Despite geopolitical tensions and economic challenges impacting the region, Air Arabia has maintained its strong growth trajectory,” Al Thani stated. “This was driven by increased operating capacity, the launch of new routes, and continued network expansion across all our hubs.”
Exceptional Fourth Quarter Growth
Air Arabia also achieved a record profit in the fourth quarter of 2024, reporting Dh351 million, a 56% surge compared to Dh225 million in the same period in 2023. Revenue for the quarter increased by 7% to Dh1.65 billion, driven by an 11% rise in passenger numbers, as the airline carried over 4.7 million passengers across its hubs. The seat load factor climbed to 83%, reflecting continued demand.
Al Thani attributed this success to the airline’s strategic expansion and cost-efficiency measures.
“The fourth quarter was remarkable for Air Arabia. We successfully expanded our network while maintaining solid margins. This strategic growth, coupled with strict cost control and strong operational efficiency, resulted in an outstanding performance,” he said.
As Air Arabia continues its expansion efforts, the airline is expected to build on its strong financial and operational momentum in 2025, reinforcing its position as a leading low-cost carrier in the region.
