Emirati budget airline Air Arabia reports record profits after loss in 2020
The Sharjah-based carrier said profits went up due to relaxed coronavirus-related restrictions.
Emirati airline Air Arabia reported today an increase in profits.
The budget carrier said its net profit in 2021 was 720 million Emirati dirhams ($196 million). This constituted a 475% increase from the net loss of 192 million dirhams ($52 million) in 2020. The 2021 net profit was the highest since Air Arabia was formed in 2003, the airline stated in a press release.
The Sharjah-based Air Arabia is one of the preeminent airlines in the United Arab Emirates alongside Etihad and Emirates. Air Arabia focuses on providing low-cost options to its customers.
Like other airlines in the UAE and the region, Air Arabia experienced massive losses in 2020 due to coronavirus-related travel restrictions.
