Air Arabia Reports Record AED 1.6 Billion Profit Before Tax in 2024
February 13, 2025: Air Arabia (PJSC), the first and largest low-cost carrier (LCC) operator in the Middle East and North Africa, 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% increase compared to AED 1.5 billion in 2023. Total turnover for the year surpassed AED 6.63 billion, marking an 11% 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% increase in operational capacity and a 12% rise in total passengers carried, reaching 18.8 million across the group. The airline also reported a 2% increase in average seat load factor, reaching 82%, further underscoring the sustained strong demand for Air Arabia’s value-driven, low-cost services. Full Year 2024 Performance: AED FY 2024 FY 2023 % Revenue AED 6.63 billion AED 6 billion 11% Passenger Numbers*all hubs* 18.8 million 16.7 million 12% Seat Load Factor 82% 80% 2% Net Profit Before Tax AED 1.6 billion AED 1.54 billion 4% Net Profit After Tax AED 1.46 billion – – Air Arabia’s Board of Directors has proposed a dividend distribution of 25% 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.” He continued: “Despite the geopolitical tensions and economic challenges impacting the region, Air Arabia Group has successfully sustained its strong growth trajectory in 2024. This was driven by increased operating capacity, the launch of new routes, and continued network expansion from all our hubs. We take great pride in our ability to deliver a value-driven travel experience to a growing customer base, strengthening our presence across global markets while maintaining operational excellence.” In the fourth quarter ending December 31, 2024, Air Arabia reported a record net profit of AED 351 million, marking a 56% increase compared to AED 225 million in the same quarter last year. Total turnover for the fourth quarter of 2024 rose 7% to AED 1.65 billion, driven by an 11% increase in passenger numbers, as the airline carried over 4.7 million passengers across all hubs during the quarter. Meanwhile, the seat load factor increased by 2% reaching a strong 83%, reflecting sustained demand for Air Arabia’s services. Fourth Quarter 2024 Performance: AED Q4 2024 Q4 2023 % Revenue AED 1.65 billion AED 1.54 billion 7% Passenger Numbers*all hubs* 4.7 million 4.2 million 11% Seat Load Factor 83% 81% 2% Net Profit AED 351 million AED 225 million 56% Al Thani continued: ” “The fourth quarter of the year was remarkable for Air Arabia, as we successfully expanded our network while maintaining solid margins. This strategic growth, coupled with rigid cost control and strong operational efficiency, resulted in an outstanding performance for the quarter”. Full Year 2024 Highlights: Fleet Network Liquidity ESG Recognition Outlook Al Thani concluded: “As the global aviation industry continues to navigate challenges, including geopolitical tensions, inflationary pressures, and supply chain disruptions, Air Arabia remains committed to growth and expansion. Our focus is on enhancing connectivity, increasing operational capacity, and providing our customers with the best options for affordable and value-driven air travel. We have full confidence in our unique business model, operational excellence, and customer-centric approach, which enable us to continuously expand our network and deliver a seamless travel experience to an ever-growing customer base.”