87. Air Arabia

Country: U.A.E.
Sector: Aviation
Group CEO: Adel Abdullah Ali
Market Value: $2.8 billion
Sales: $1.4 billion
Profits: $333 million
Assets: $3.9 billion

Air Arabia operates a fleet of 68 Airbus A320 and A321 aircraft to over 190 routes across the Middle East, Africa, Asia, and Europe. In 2022, the company added 24 new routes to its global network and served more than 12.8 million passengers from its seven hubs in the U.A.E., Morocco, Egypt, Armenia, and Pakistan, an increase of 90% compared to 6.8 million passengers in 2021. As a result, the company’s net profit increased by 69.8% to $333 million. Sharjah Asset Management Company is the largest shareholder in the company, with an 18.6% stake.