Air Arabia okays 9pc cash dividend
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.