Air Arabia flies high with $125m Q2 profit
Sharjah-based Air Arabia has announced record financial and operational results for the second quarter and first half as the airline continues to demonstrate remarkable performance and growth.
One of the largest low-cost carrier operators in the Mena region, Air Arabia said its net profit for the three-month period ended June 30, 2023, surged by 187 per cent to hit $125 million from last year’s figure of $43.5 million.
The second quarter net profit also included an exceptional one-off receivable that the airline received from one of its suppliers, it stated. The company’s turnover for the same period increased by 25 per cent as the strong demand for air travel continued, registering $344 million, compared to $302 million in the corresponding period last year, it added.
Air Arabia pointed out that more than 3.8 million passengers flew between April and June 2023 across the carrier’s seven hubs, thus registering a 37 per cent jump in the numbers compared to the same quarter last year.
Emirates Group unveils Innovation Majlis
Aviation innovation is hardcoded into the Emirates Group’s DNA and this was brought to life at the new Innovation Majlis unveiled by HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman & Chief Executive Emirates Airline & Group with other senior leaders at its Dubai headquarters.
As a platform to foster deeper research and development, and greater exchange of cutting-edge ideas, the Innovation Majlis will showcase the latest in robotics, hyper-reality, holograms, 3D printers and other advanced technologies.
It will serve as the social space to co-create proof-of-concepts that will benefit customers, communities and the aviation industry. Partnerships with industry leaders and universities, sustainable initiatives, and exploring alternate energies will be some of the other key drivers for the majlis.
HH Sheikh Ahmed said: “The Emirates Group has always been a trailblazer in the aviation industry, and innovation is fundamental to our core values, our culture and our mindset. The Innovation Majlis, with its latest tools and tech, is designed to empower our employees to explore new horizons, discover innovative solutions, and drive the future of the aviation industry.”
Etihad ramps up winter schedule
Etihad Airways, the national carrier of the UAE, has unveiled an ambitious network overhaul.
Etihad has already announced the launch of nine new destinations this year, including Malaga, Mykonos, Lisbon, Kolkata, St Petersburg, Dusseldorf, Copenhagen, Osaka, and Boston.
In addition, the airline recently published two new routes to the Indian Subcontinent, Kozhikode and Thiruvananthapuram, to be launched in January 2024.
To complement these developments, Etihad has made several recent network changes and frequency adds to enhance travel options and connectivity. Highlights include:
Improved Departure Times: Enhanced passenger convenience with adjusted departure times for European and Asian destinations.
Expanded Frequencies: Increased frequencies to Chennai (MAA), Islamabad (ISB), Kochi (COK), Madrid (MAD), Milan (MXP), Munich (MUC), Rome (FCO), and Phuket (HKT) offer travellers more choices while improving travel options and connectivity.
Jazeera Airways records increased traffic
JAZEERA Airways reported a 26.1 per cent increase in total revenues to $318.22 million for the first half (H1).
Operating profits for the period was $30.3 million and net profit $20.4 million, compared to $23.9 million for the same period last year. Profits for the last year also included a “one-off” gain of $5.6 million from the airline’s sale and lease-back of engines, said a statement.
With a strong demand for air travel, Jazeera’s passenger traffic showed a 40.9 per cent increase to 2.1 million for the first half of the year. Load factors also increased by 4.1 per cent to reach 78.1 per cent in H1.
Marwan Boodai, Chairman, Jazeera Airways, said: “As we share our positive results for the first half of 2023, we remain optimistic and confident of our performance. Demand for travel is high and we are pleased to see that reflected in the increased passenger traffic as well as consistent load factors.”