Latest news with #AbdullahbinMohammedAlThani
Sharjah 24
13-05-2025
- Business
- Sharjah 24
Air Arabia reports AED 355 million net profit in Q1 2025
Revenue and passenger growth The airline's revenues reached AED 1.75 billion, up 14% from the same period last year. Air Arabia carried over 4.9 million passengers across its hubs between January and March 2025—an 11% increase year-on-year. The average seat load factor was 84%, indicating high operational efficiency. Strong fundamentals and operational excellence Sheikh Abdullah bin Mohammed Al Thani, Chairman of Air Arabia, highlighted that the results underscore the group's resilient business model, cost-efficiency, and customer-focused approach. He noted that Air Arabia navigated challenges such as the Ramadan travel season, fuel and currency fluctuations, and supply chain issues, while still delivering solid profitability. Resilience amid global challenges Despite geopolitical tensions, economic uncertainties, and industry-wide inflation, Air Arabia continues to perform strongly. The airline remains focused on network growth, reliable service, and long-term value creation, demonstrating its ability to adapt and thrive in a dynamic environment. Looking ahead: Strategic expansion plans Sheikh Abdullah concluded by reaffirming the airline's strategic growth plans for 2025, which include expanding its destination network, pursuing new growth opportunities, and enhancing value for both shareholders and customers through an efficient and scalable business model.
Sharjah 24
17-03-2025
- Business
- Sharjah 24
Air Arabia shareholders approve 25% dividend at AGM
Strong financial performance and dividend details The dividend, which is equivalent to 25 fils per share, marks another year of strong financial performance for the award-winning low-cost carrier. Record net profit and approval of AGM reports The Board of Directors' recommendation follows the airline's robust financial performance in the year ending December 31, 2024, where Air Arabia reported a record net profit before tax of AED1.6 billion, marking a 4 percent increase compared to 2023. During the AGM, the report of Air Arabia's auditors, balance sheet, and profit and loss accounts were approved by the assembly for the year. Appointment of new auditors and discharge of liability Furthermore, the Board of Directors and auditors of the company were discharged from liability for the financial year ending December 31, 2024, while auditors for the next fiscal year were appointed and their remuneration fixed. Chairman's statement on 2024 achievements Sheikh Abdullah bin Mohammed Al Thani, Chairman of Air Arabia, commented, 'Despite geopolitical tensions and economic challenges, Air Arabia Group sustained exponential growth in 2024, driven by increased operating capacity, new route launches, and continued network expansion. This exceptional year underscores our commitment to delivering a value-driven travel experience, strengthening our global footprint, and maintaining operational excellence.' Expansion of routes and fleet in 2024 In 2024, Air Arabia added 31 new routes to its global network from its six operating hubs in the UAE, Morocco, Egypt, and Pakistan. The carrier took delivery of 10 new aircraft and ended the year with a fleet of 81 Airbus A320 and A321 aircraft operating to over 220 routes across the Middle East, Africa, Asia, and Europe.
