Sharjah-based low-cost carrier Air Arabia has reported a profit of AED 44 million ($12 million) and revenue of AED 1 billion for the first half of 2021.  

The H1 profit was an increase of 126 percent on H1 2020, which was when travel restrictions relating to the pandemic were at their strictest on airlines around the world. 

In a press release, the company said 2.3 million passengers flew with the airline between January and June 2021 across five hubs, with average seat load factors 73 percent.

Of the 2.3 million that flew, 940,000 flew between March and June 2021.

The profit for the second quarter was AED 10 million, an increase of 104 per cent compared to the second quarter of 2020. The company’s turnover for the second quarter of 2021 was up by 313 per cent year-on-year, the press release said. 

Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, said: “Air Arabia’s ability to post a profitable first half 2021, despite the continued impact of the COVID-19 pandemic on the aviation industry worldwide, is a direct result of the cost control measures adopted by the management team and supported by the gradual resumption of operations witnessed in the first half.”

He added: “While flights resumption compared to pre-pandemic are still subject to many restrictions, the second quarter of 2021 witnessed gradual improvement in comparison to same quarter last year, which was heavily impacted by the subsequent cancellation of scheduled flight operations. We remain optimistic that the gradual ease on travel restrictions and resumption of operations will continue to help the industry in its path to recovery.”

(Writing by Imogen Lillywhite; editing by Seban Scaria)

Imogen.lillywhitere@refinitiv.com

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© ZAWYA 2021