Latest news with #AlETIHAD
Al Etihad
2 days ago
- Business
- Al Etihad
Air Arabia reports Dh770 million net profit in H1 2025
13 Aug 2025 20:55 ABU DHABI (AlETIHAD)Air Arabia declared its results on Wednesday, reporting a net profit of Dh770 million in the first half of 2025, an 11% increase from Dh693 million in the same period last year, supported by higher passenger numbers and improved seat load factors. Turnover for the six-month period reached Dh3.44 billion, up 8% from Dh3.19 billion in H1 2024. The airline carried more than 10.1 million passengers across its hubs, marking a 13% rise, while the average seat load factor improved to 84%.In the second quarter of 2025, Air Arabia posted a net profit of Dh415 million, 3% lower than the Dh427 million recorded in Q2 2024. Quarterly turnover stood at Dh1.69 billion, reflecting a 2% year-on-year increase. Passenger traffic during the quarter rose 15% to over 5.1 million, and the average seat load factor increased by six percentage points to 85%.During the first half of the year, Air Arabia added two aircraft to its modern fleet, bringing it to a total of 83 owned and leased Airbus A320 and A321 aircraft. An additional 120 new aircraft on order with Airbus are expected to begin delivery by the end of 2025. The carrier also expanded its network by launching 13 new routes across its operating hubs in the UAE, Morocco, Egypt, and Pakistan. In June, the airline was ranked among Forbes Middle East's 'Top 100 Listed Companies 2025' for the second consecutive Arabia, listed on the Dubai Financial Market, is the Middle East and North Africa's leading low-cost carrier, operating around 200 routes. It commenced its operations in October on the results, Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia, said the strong second-quarter performance demonstrated the resilience of the airline's business model and its ability to execute growth plans effectively. 'Despite escalating geopolitical tensions and regional conflict witnessed during this period, which disrupted operations and led to flight cancellations, we responded to these exceptional circumstances with agility and efficiency. We continued to invest in expanding operational capacity across all hubs, achieving a record seat load factor driven by strong and sustained demand for air travel,' he said. Looking ahead, he added: 'Our focus remains on expanding connectivity, serving new markets, and further enhancing operational efficiency and innovation. We remain committed to delivering exceptional value to our customers while creating sustainable growth and long-term returns for our shareholders'
Al Etihad
21-04-2025
- Business
- Al Etihad
RAKBANK delivers Dh704 million net profit in Q1 2025
21 Apr 2025 19:04 ABU DHABI (AlETIHAD)The National Bank of Ras Al Khaimah (RAKBANK) reported a profit after tax of Dh704 million for the first quarter of 2025, marking a 22.7% increase over the Dh574 million recorded in Q1 to the bank's latest financial disclosures to the Abu Dhabi Securities Exchange (ADX), this performance was driven by a 10.7% year-on-year increase in total income, which reached Dh1.3 billion. The growth was attributed to continued momentum in the bank's balance sheet and a strong rise in non-interest in 1976, RAKBANK is a market leader in providing a wide range of banking services across the UAE. It is a public joint stock company headquartered in the emirate of Ras Al Khaimah. It is majority-owned by the government of Ras Al Khaimah. The bank was listed on the ADX in 2025 and its net capitalisation stood at Dh12.772 billion, according to latest ADX data. Net interest income for the quarter rose by 1.4% year-on-year (YoY) to Dh867 million, while non-interest income recorded a significant 47% increase, reaching Dh433 total assets stood at Dh90.8 billion as of March 31, 2025, reflecting a 15.5% growth compared to the same period last year. The bank's gross loans and advances portfolio grew by 16.7%, reaching Dh50.4 deposits also saw healthy growth, increasing by 10.2% year-on-year to Dh61.0 expenses for the quarter were Dh434 million, reflecting an 11.8% rise compared to Q1 2024. The increase was mainly due to ongoing investments in technology, data, people, and customer experience. Despite this, the bank maintained operational efficiency with a cost-to-income ratio of 33.4%.On the asset quality front, the non-performing loans (NPL) ratio improved to 2.1%, down from 2.6% in Q1 2024, underscoring the bank's prudent credit risk management and recovery also remained well-capitalised, reporting a capital adequacy ratio of 18.6%, up from 17.2% in the same period last Ahmed, Group CEO of RAKBANK, commented: 'We've kicked off 2025 with a record-breaking performance, marking the strongest quarter in RAKBANK's history – a profit before tax of Dh772 million. We also crossed Dh90 billion in total assets for the first time in our history – a major milestone that reflects our strong momentum, the quality of our products and services, and the deep trust our customers continue to place in us.'
