Air Arabia is the largest low-cost carrier in the Middle East, starting operations in 2003. It has strengths in offering cheap fares and serving many destinations on comfortable flights. However, it is limited by not positioning itself in the higher-paying market. Opportunities exist in expanding operations, creating hubs for connections, while risks include growing competition from rival airlines. The company achieved success through strategies like selecting a single aircraft model, using technology to boost efficiency, preparing for fuel price changes, and expanding service to new locations.