Air Arabia hit by regional disruptions; Asyad delivers mixed 1Q results

Airspace closures drag on Air Arabia’s 1Q earnings

Air Arabia’s earnings drag: UAE budget carrier Air Arabia’s 1Q 2026 earnings were weighed down by regional geopolitical tensions — which triggered temporary airspace closures, flight rerouting, rescheduling, and cancellations and sent fuel prices up. The company saw its net income attributable to shareholders fall 18.7% y-o-y to AED 248.2 mn in 1Q 2026, according to its financial release (pdf). Meanwhile, its revenue edged up 1.2% y-o-y to AED 1.8 bn during the quarter.

Asyad Shipping posts mixed 1Q earnings

A mixed bag for Asyad: Omani shipping group Asyad Shipping saw its net income rise 41.2% y-o-y to OMR 16.1 mn in 1Q 2026, according to its financial release (pdf). The group’s gross revenue fell 7.8% y-o-y to OMR 77.3 mn during the quarter.

On the operations front: Asyad acquired three newly built VLCCs under construction, took the delivery of two secondhand Newcastlemax dry bulk vessels, and delivered four LNG carriers to their new owner. Its operating fleet stood at 42 owned vessels, four co-owned vessels, and 31 chartered vessels as of 31 March — compared with 44 owned, four co-owned, and 32 chartered vessels at the end of 2025.