Press releases, Reports & Disclosures for Air Arabia PJSC

Air Arabia has announced a board of directors meeting scheduled for 13th February 2024 at 3:00 pm. The board will discuss the full year financial results for 2023. The message was addressed to Dr. Maryam Al Suwaidi, CEO of the Emirates Securities and Commodities Authority (ESCA), and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market (DFM). The disclosure was made by Abdelrahman Bin Taliah, Director of Corporate & Government Affairs at Air Arabia.

Air Arabia has ordered 240 LEAP-1A engines from CFM International, a joint company between Safran Aircraft Engines and GE, to power its existing order of 120 Airbus A320neo family aircraft. The deal, valued at over $3.36 billion, includes a multi-year services agreement and spare engines. The engine order is part of Air Arabia's fleet expansion strategy, which aims to increase operational efficiency, maintain reliability, and contribute to a more sustainable aviation industry. The LEAP engine family is known for its improved fuel consumption and lower CO2 emissions.

Air Arabia has reported a record net profit of AED 1.32 billion for the first nine months of 2023, a 53% increase compared to the same period in the previous year. The company's revenue for the same period also rose by 16%, reaching AED 4.45 billion. The third quarter of 2023 saw a net profit increase of 26%, reaching AED 522 million, and a 21% increase in the number of passengers carried. These results mark an all-time high for the carrier. The company attributes its robust growth to expanding operations, introducing new routes, and increasing passenger numbers, which totalled 12.4 million, a 36% increase from the previous year.

Air Arabia, Middle East & North Africa’s largest low-cost carrier, has reported a record net profit of AED 1.32 billion for the first nine months of 2023, a 53% increase compared to the same period last year. The company's revenue also increased by 16% to AED 4.45 billion. The third quarter of 2023 saw a net profit of AED 522 million, a 26% increase from the previous year, and revenue of AED 1.63 billion. The number of passengers carried in the first nine months of 2023 increased by 21% to 12.4 million. These results represent an all-time high for the carrier.

On 13th November 2023, the board of directors of Air Arabia held a meeting as previously disclosed. During this meeting, the board ratified the financial statements for the second quarter of 2023. The information was communicated by Abdelrahman Bin Taliah, the Director of Corporate and Government Affairs.

Air Arabia has scheduled a board of directors meeting on November 13, 2023, at 3:00 pm. The meeting will focus on discussing the financial results of the third quarter of 2023. The communication is addressed to Dr. Maryam Al Suwaidi, CEO of the Emirates Securities and Commodities Authority (ESCA), and Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market (DFM). The information is disclosed by Abdelrahman Bin Taliah, Director of Corporate & Government Affairs at Air Arabia.