By Avinash Saxena
Air Arabia yesterday announced record financial results for the fourth quarter and for the full year ending December 31, 2021, despite the prevailing impact of Covid-19 pandemic that continued throughout the year.
The Mena region’s largest low-cost carrier reported net profit of AED720 million ($196m) for the full year ending December 31, 2021, an increase of 475 per cent compared to AED192m ($52m) net loss registered for the full year 2020, which was heavily impacted by pandemic restrictions on air travel.
The airline’s turnover for the full year 2021 reached AED3.17 billion, an increase of 71 per cent compared to the AED1.85bn registered for the full year 2020.
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