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Air Arabia has achieved record financial results for the full year ending December 31, 2023, the airline said in a media release on Tuesday.
The airline achieved double-digit growth in profitability and passenger numbers, with a record 27 per cent increase in net profit.
The budget-carrier reported net profit of Dh1.5 billion for 2023, up from Dh1.2 billion recorded in 2022. The airline’s turnover for the same period was Dh6 billion – a 14 per cent increase from Dh5.2 billion in 2022.
Air Arabia’s Board of Directors proposed a dividend distribution of 20 per cent of share capital, equivalent to 20 fils per share.
Sheikh Abdullah Bin Mohamed Al Thani, Chairman of Air Arabia, said: “2023 has been a remarkable year for the airline. Air Arabia has successfully maintained its growth momentum from the previous record-breaking year and achieved exceptional financial and operational results.
“The significant milestones attained in terms of growth, revenue, and profitability serve as a testament to Air Arabia’s robust business model, competent management team, and effective growth strategy.”
