Sharjah (Al Ittihad)
Air Arabia recorded a net profit of 1.2 billion dirhams during the fiscal year ending on December 31, 2022, an increase of 70% compared to 720 million dirhams for the year 2021.
The company’s revenue for the year 2022 reached 5.2 billion dirhams, an increase of 65% compared to the revenue recorded in 2021, which amounted to 3.2 billion dirhams. The strong growth in passenger numbers, which exceeded pre-pandemic numbers, helped the company’s 2022 financial and operational performance.
Air Arabia provided services to more than 12.8 million passengers in 2022 from its seven operating centers in the United Arab Emirates, Morocco, Egypt, Armenia and Pakistan, recording an increase of 90% compared to the number of passengers in the previous year, which amounted to 6.8 million passengers. Seat factor – the ratio of the number of passengers to the number of available seats – for fiscal year 2022 maintained a strong rate of 80%.
The board of directors of Air Arabia recommended distributing 15% of the company’s capital as dividends to shareholders, i.e. 15 fils per share. This proposal was submitted after the meeting of the Board of Directors, where this recommendation will be put forward for ratification by the shareholders during the next annual general meeting.