Air Arabia posts bottom line growth in 3Q 2024

Budget carrier Air Arabia saw its bottom line increase 8% y-o-y to AED 564 mn in 3Q 2024 on the back of expanded operating capacity and an increase in routes, according to an earnings release (pdf). The airline’s topline rose 10% y-o-y during the period to AED 1.8 bn.

On a nine-month basis, Air Arabia’s net income fell 5% y-o-y to AED 1.3 bn in 9M 2024. The company’s revenues rose 12% y-o-y to AED 5 bn, driven by strong passenger demand, with over 14 mn passengers traveling with Air Arabia during the period, marking a 13% y-o-y increase.