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Air Arabia Air Arabia

Air Arabia Reports First Half 2020 Net Loss

Air Arabia, the first and largest low cost carrier (LCC) in the Middle East and North Africa, recently announced its financial and operational results for the first half of this year ending June 30, as the global aviation industry continues to battle the impact of COVID-19.

Air Arabia registered a net loss of AED169 million for the first half ending June 30, a direct result of second quarter performance being heavily impacted by COVID-19 and the subsequent cancellation of scheduled flight operations.

The company’s turnover for the first six months of the year registered AED1,021 billion, a drop of 53 percent compared to AED2,173 billion in the corresponding period in 2019. Air Arabia served a total 2,48 million passengers from all its four hubs in the first half of the year, a drop of 57 percent compared to first half of 2019.

The first half year results were largely driven by the second quarter that witnessed the most severe impact of COVID-19 on airlines operation. Regular flight schedule was affected by airport closures and suspension of flights.