86. Air Arabia

Country: U.A.E.
Sector: Aviation
Group CEO: Adel Abdulla Ali
Market Value: $3.4 billion
Sales: $1.6 billion
Profits: $421 million
Assets: $4 billion

Air Arabia operates a fleet of 74 Airbus A320 and A321 aircraft in the Middle East, Africa, Asia, and Europe. In 2023, it added 26 new routes to its global network, bringing the total network size to 206 routes from seven operational hubs. Its available capacity increased by 26% during 2023 compared to 2022. Air Arabia served more than 16.7 million passengers in 2023, a 31% surge compared to 2022. Sharjah Asset Management Company is the largest shareholder in the company, with an 18.6% stake.