Middle East budget airline Air Arabia posted a surge in second-quarter profit as the number of passengers carried nearly tripled amid a rebound in air travel demand.
Net profit for the three-month period ended June 30 jumped to Dh160 million ($43.57m) from Dh10m in the same quarter last year, Air Arabia said in a statement on Wednesday.
The airline's revenue for the period more than doubled to Dh1.11 billion, from Dh496m in the second quarter of 2021.
“The strong performance we witnessed in the first quarter of this year continued in the second quarter and was supported by higher customer demand and cost control measures adopted by the management team,” Sheikh Abdullah Bin Mohamed Al Thani, chairman of Air Arabia, said.
“Air Arabia remains focused on diversifying and expanding its business while investing in product innovation and adopting further measures to control costs.”
Demand for air travel is recovering as border restrictions ease and people take advantage of the freedom to travel after two years of Covid-19 lockdowns.
However, higher oil prices, rising inflation and a shortage of labour have challenged the global aviation industry's recovery as airlines race to ramp up operations to keep pace with demand.
Air Arabia carried more than 2.7 million passengers between March and June 2022 across its five hubs, an annual increase of 195 per cent.
The airline’s average seat load factor — a measure of how well an airline fills available seats — rose by 13 per cent during the second quarter to stand at 79 per cent.
Air Arabia's first-half net profit surged to Dh451m, from Dh44m in the first six months of 2021, as revenue for the period more than doubled to Dh2.24bn.
First-half earnings grew as the airline carried more than 5.2 million passengers between January and June, an increase of 131 per cent compared with the same period last year.
During the first half, Air Arabia added six new aircraft to its fleet and expanded its network with the launch of 16 new routes across its hubs in Sharjah, Ras Al Khaimah, Morocco and Egypt.
In June, Fly Arna, Air Arabia's joint venture with the Armenian National Interests Fund, obtained its Air Operator Certificate (AOC). It launched operations with direct flights connecting the Armenian capital Yerevan to Hurghada and Sharm el-Sheikh in Egypt.
Air Arabia group, which last year signed an agreement with Pakistani conglomerate Lakson Group to launch the new low-cost airline Fly Jinnah, expects the joint venture will receive its AOC soon.
“The global aviation industry continues to face geopolitical challenges, the impact of higher oil prices and uncertainty towards full economic recovery,” Mr Al Thani said.
“Despite all these, we have full confidence in the business model we operate, and the crucial role that the aviation industry plays in supporting regional and global economic growth.”
JOKE'S%20ON%20YOU
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Killing of Qassem Suleimani
More from Neighbourhood Watch:
Results
ATP Dubai Championships on Monday (x indicates seed):
First round
Roger Federer (SUI x2) bt Philipp Kohlschreiber (GER) 6-4, 3-6, 6-1
Fernando Verdasco (ESP) bt Thomas Fabbiano (ITA) 3-6, 6-3, 6-2
Marton Fucsovics (HUN) bt Damir Dzumhur (BIH) 6-1, 7-6 (7/5)
Nikoloz Basilashvili (GEO) bt Karen Khachanov (RUS x4) 6-4, 6-1
Jan-Lennard Struff (GER) bt Milos Raonic (CAN x7) 6-4, 5-7, 6-4
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
COMPANY%20PROFILE
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Semi-final fixtures
Portugal v Chile, 7pm, today
Germany v Mexico, 7pm, tomorrow
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Essentials
The flights
Return flights from Dubai to Windhoek, with a combination of Emirates and Air Namibia, cost from US$790 (Dh2,902) via Johannesburg.
The trip
A 10-day self-drive in Namibia staying at a combination of the safari camps mentioned – Okonjima AfriCat, Little Kulala, Desert Rhino/Damaraland, Ongava – costs from $7,000 (Dh25,711) per person, including car hire (Toyota 4x4 or similar), but excluding international flights, with The Luxury Safari Company.
When to go
The cooler winter months, from June to September, are best, especially for game viewing.
Women’s World T20, Asia Qualifier, in Bangkok
UAE fixtures Mon Nov 20, v China; Tue Nov 21, v Thailand; Thu Nov 23, v Nepal; Fri Nov 24, v Hong Kong; Sun Nov 26, v Malaysia; Mon Nov 27, Final
(The winners will progress to the Global Qualifier)
UAE currency: the story behind the money in your pockets
SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
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ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
'Doctor Strange in the Multiverse Of Madness'
Director: Sam Raimi
Cast: Benedict Cumberbatch, Elizabeth Olsen, Chiwetel Ejiofor, Benedict Wong, Xochitl Gomez, Michael Stuhlbarg and Rachel McAdams
Rating: 3/5
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Killing of Qassem Suleimani
