Palm Beach International Airport (PBI)’s Post

Air Arabia, the leading low-cost carrier in the MENA region, reported robust financial performance for Q2 and H1 2024. The airline posted a net profit of Dh427 million for Q2, with a 19% revenue increase, and Dh693 million for the first half of the year, reflecting a 13% rise in turnover. The number of passengers and seat load factor also saw significant growth, underscoring Air Arabia’s resilience and market leadership. #AirArabia #AviationIndustry #theemiratestimes https://lnkd.in/g4N3RitK

After hitting a record high in 2023, Saudi Arabia’s airports saw a 17% increase in the number of passengers in the first half (H1) of 2024 to 62 million. The number of flights saw a 12% increase to 446,000 while air freight saw a 41% increase in volume to 606,000 tons by the end of June. GACA - General Authority of Civil Aviation - Saudi Arabia recently released air traffic statistics revealing significant growth in the number of passengers and flights during H1 of 2024. Read more: https://lnkd.in/dE-TpsDD #SaudiArabia #Airport #Travel #AirTraffic

🛫 Exciting news from Oman Air! ✈️ The national carrier reports a remarkable 30% #revenue growth and a significant 36% decrease in net losses, marking a successful turnaround in its #financial performance for 2023. 📈 Strategic adjustments to flight #destinations and frequencies, coupled with stringent cost-control measures, have bolstered #operational efficiency without resorting to route suspensions or #aircraft sales. 🌍 H E Said Hamood al Mawali, Minister of Transport, Communications, and Information #Technology, unveiled these encouraging figures during Oman Air's recent media briefing, emphasizing the airline's commitment to adaptability and strategic decision-making. 🎉 Moving forward, Oman Air remains dedicated to delivering exceptional service while focusing on sustainable growth and profitability. Read More - https://lnkd.in/gD_HDWSJ #OmanAir #FinancialTurnaround #OperationalEfficiency #AviationIndustry #TransformationJourney

How Tony Douglas Is Building Riyadh Air To Be A Better Airline It’s one thing to come into a struggling airline and turn things around, but quite another to set up a clean sheet carrier from scratch. Not many CEOs get the opportunity to do either - certainly not both. But for Tony Douglas, CEO of Riyadh Air, proving his turnaround prowess at one Middle East airline has opened the door to a dream opportunity to get it right from the start. Read more at: https://lnkd.in/gg_YYkpy #AviationTalk #aviationnews #avgeek #aviation

𝐀𝐢𝐫 𝐀𝐫𝐚𝐛𝐢𝐚 𝐏𝐫𝐨𝐟𝐢𝐭𝐬 𝐃𝐢𝐩 𝐀𝐦𝐢𝐝𝐬𝐭 𝐒𝐭𝐫𝐨𝐧𝐠 𝐏𝐚𝐬𝐬𝐞𝐧𝐠𝐞𝐫 𝐆𝐫𝐨𝐰𝐭𝐡. Air Arabia Profitability took a hit in the first half of 2024 despite robust passenger numbers and increased revenue. The airline, a regional aviation leader, grappled with economic challenges and rising costs, impacting its bottom line. Read more: https://lnkd.in/dVtQfxuT #AirArabia #Profitability #PassengerNumbers #Revenue #EconomicChallenges #ArabNews #ArabTimes #ArabTimesNews

Jazeera Airways has held its Annual General Meeting (AGM) and Extraordinary General Meeting (EGM) at its headquarters in Kuwait. During the AGM, the shareholders of Jazeera Airways approved the company’s financials for the year ended 31st December 2023, reporting a net profit of KD 6.13 million and earnings per share of KD 27.86 fils. Passenger numbers for 2023 were higher by 30.6% at 4.68 million compared to the previous year while load factor also increased to 78.2%. Marwan Boodai, chairman, Jazeera Airways, said: “Jazeera’s strength and spirit has been tested several times in the last few years. We however, continue to demonstrate operating resilience. Last year again, was challenging but our ongoing focus on unit cost, high load factor and growing market share helped retain our strong position in a highly competitive environment. Our solid business model and service quality always emerge successful and we are already seeing a good start to 2024.” Read more: https://lnkd.in/dWpaGrmN #airlinesandairplanes #businessandfinance #agm #kuwait #aviationindustry

Air Arabia’s 3Q 2024 Profit Rises 8% to $153.5 Million Amid 10% Revenue Growth - Air Arabia, a leading low-cost airline based in the UAE, has posted strong financial results for the third quarter of 2024, with net profit rising by 8% to $153.5 million. This growth was supported by a 10% increase in turnover, which reached $484 million. The airline’s financial performance reflects its resilience and effective management in a competitive aviation market. Additionally, Air Arabia reported a robust liquidity position, with $1.3 billion in cash and cash equivalents, underscoring its capacity to navigate future opportunities and challenges. - https://lnkd.in/d2dfF9E7

Collectively, the ten largest airlines in the Middle East have a combined order book of 795 aircraft to be delivered by the end of 2029, making it one of the largest order books in existence. This will lead to around 107 million additional seats in the market by 2029, with approximately 16 million coming from Saudi Arabia-based carriers. The increased competition, along with new capacity from other airlines, will add complexity to market conditions, impacting Riyadh Air, Saudia, and the Vision 2030 ambition. How will Saudi Arabia's Vision 2030, aiming for 300 million passengers by 2030, navigate this challenge? Discover more in the final part of our three-part series on the Middle East aviation market: https://hubs.li/Q02FNCN70 #MiddleEast #MiddleEastTourism #Aviation

Sharjah-based Air Arabia reported a 7 per cent decrease in first-quarter profit on Monday, despite robust passenger demand and ongoing business growth. “Despite the robust passenger demand, the aviation industry continued to experience slower yield growth and rising costs during the second quarter of this year, driven by economic and geopolitical uncertainties, currency fluctuations, fuel price volatility, and supply chain disruptions that have led to increased inflationary pressures,” said Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia. The budget carrier’s profit for the three months to June 30 dropped to Dhs427m, compared to Dhs459m for the same period a year earlier. However, the company’s turnover for the same period jumped 19 per cent to Dhs1.65bn from Dhs1.39bn for the corresponding period a year ago, as the demand for air travel continues to increase. Air Arabia | #Aviation | #Sharjah

Oman Air Receives Award for Most Punctual Airline in MEA