Air Arabia reports record AED1.6 bln profit in 2024

Air Arabia has announced its financial and operational results for the full year ending December 31, 2024, posting a record pre-tax net profit of AED 1.6 billion, reflecting a four 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 operations by growing its network across six hubs and adding 31 new routes, leading 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 two 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).

The Chairman of Air Arabia, Sheikh Abdullah bin Mohamed Al Thani,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.”