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18 July 2024

Air Arabia shareholders approve 9% cash dividend at AGM

By Staff

Air Arabia shareholders today approved the distribution of a nine per cent cash dividend for the 2015 financial year at the company’s Annual General Meeting (AGM) in Sharjah.

The dividend is equivalent to 9 fils per share.

During the AGM, the assembly approved the report of the company’s auditors for the financial year ending December 31, 2015, as well as the balance sheet and profit and loss accounts for the same period.

Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia, said: “Despite ongoing concerns in the global economy and continued pressure on yields in the aviation industry, with innovation and operational efficiency at the heart of our business, Air Arabia remains well positioned for growth in 2016.”

For the full year ending December 31, 2015, Air Arabia reported a net profit of Dh531 million while turnover reached Dh3.8 billion in 2015 with passenger numbers increasing by 12 per cent to more than 7.6 million.