Business

Full-year revenue surges 11% to AED 6.63 billion, with passenger numbers rising 12% to 18.8 million.

Air Arabia (PJSC), the Middle East and North Africa’s leading low-cost carrier, has announced a record pre-tax net profit of AED 1.6 billion for the full year ending December 31, 2024. This marks a 4% increase compared to AED 1.5 billion in 2023. The airline also reported a total revenue of AED 6.63 billion, an 11% rise from AED 6 billion in the previous year.

Air Arabia’s strategic expansion, which included adding 31 new routes across its six operational hubs, contributed to a 13% increase in operational capacity. This resulted in a 12% rise in passenger numbers, reaching 18.8 million, with an improved seat load factor of 82%.

Financial Performance Overview

Air Arabia’s Board of Directors has proposed a 25% cash dividend, equivalent to 25 fils per share, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, expressed pride in the airline’s performance:
"2024 has been a record-breaking year for Air Arabia Group, marked by significant expansion and an increased footprint across all key markets. Despite geopolitical and economic challenges, we have successfully sustained our strong growth trajectory, driven by increased operational capacity and the launch of new routes."

Q4 2024 Performance

Air Arabia posted an impressive Q4 2024 net profit of AED 351 million, a 56% increase from AED 225 million in Q4 2023. Total quarterly revenue rose 7% to AED 1.65 billion, with passenger numbers increasing by 11% to 4.7 million. The seat load factor reached 83%, reflecting continued demand for Air Arabia’s cost-effective travel options.

Operational Highlights for 2024

Fleet Expansion

• Air Arabia’s fleet grew to 81 Airbus A320 and A321 aircraft.
• 10 new Airbus A320 aircraft were added in 2024.
• 9 short-term leased aircraft supported peak season operations.

Network Growth

• 31 new routes added, bringing the total network to 220 destinations.
• 13% increase in available capacity across all hubs.

Liquidity and ESG Initiatives

• AED 5.3 billion in cash and cash equivalents.
• Implementation of a circular economy approach for inflight services, ensuring biodegradable and recyclable materials.
• Deployment of an enhanced fuel management system to optimize fuel efficiency and reduce emissions.
• Transition to a paperless engineering department using the AMOS digital system.
• Expansion of the ‘Charity Cloud’ CSR program, establishing educational and medical facilities in Cambodia, Tajikistan, and Bangladesh.
• Awarded an "AA" ESG ranking by MSCI, placing it in the Leader category.

Industry Recognition and Awards

• Ranked among the Top 100 Listed Companies of 2024 by Forbes Middle East.
• Recognized as the Best Airline in the Region and 8th Globally by AirHelp.
• Secured 2nd place globally in the Top 100 Airlines for 2024 ranking by Airfinance Global.
• Won the "Corporate Award in the Airline Category" at the 2024 OPS Forum in Athens.
• Named "Leading Low-Cost Airline Brand – MENA" by Global Brands Magazine.
• Fly Jinnah, an Air Arabia Group company, ranked among the Top 5 Best Low-Cost Airlines in Central Asia & CIS by Skytrax.

Outlook for 2025

Sheikh Al Thani concluded:
"As the aviation industry faces global challenges, Air Arabia remains committed to strategic growth. Our focus is on expanding our network, increasing operational capacity, and enhancing customer experience while maintaining our position as the leading low-cost carrier in the region."

Air Arabia continues to strengthen its market leadership, reinforcing its commitment to providing affordable and value-driven air travel across global markets.

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