Air Ara­bia okays 9pc cash div­i­dend

The Pak Banker - - COMPANIES/BOSS -

SHAR­JAH: Air Ara­bia share­hold­ers on Sun­day 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.

Shaikh 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.

2015 was a year of sig­nif­i­cant route ex­pan­sion with 23 routes added to the Air Ara­bia net­work, in­clud­ing the no­table achieve­ment of be­com­ing the re­gion's first low-cost air­line to en­ter the Chi­nese mar­ket with the launch of ser­vices to the city of Urumqi.

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