Sharjah-based low-cost airline Air Arabia has reported a first quarter profit of AED 342 million ($93 million), up 17% year-on-year (yoy), and plans to pursue growth and new opportunities, the company said on Monday.

The Dubai-listed airline, which also flies from Abu Dhabi and Ras Al Khaimah, reported revenue of AED 1.429 billion for Q1, up from AED 1.128 billion in Q1 2022.

The carrier said in results posted to Dubai Financial Market (DFM) that it flew 3.9 million passengers during the quarter, up 59% yoy.

The average seat load factor was 85%, up 8% yoy, the airline said.

Chairman Sheikh Abdullah Bin Mohammad Al Thani said: “We remain steadfast in our growth plans; we will continue to build on our strengths and explore new opportunities that will enable us to further expand the reach of our value-driven product and thus, enabling more customers and communities to benefit from our affordable and reliable air travel offering.”

(Reporting by Imogen Lillywhite; editing by Brinda Darasha)