Airline

Air Arabia Approves Distribution Of 10pc Cash Dividend

Air Arabia, the first and biggest low cost carrier in the Middle East and North Africa, announced its general assembly has approved the distribution of a 10pc cash dividend of the company’s share of capital.    Air Arabia chairman Sheikh Abdullah Bin Mohammad Al-Thani said “We are glad to share Air Arabia’s success with our shareholders by distributing a 10 percent cash dividend of the company’s share capital for the second consecutive year.” 

Air Arabia’s net profit for the 12 months ending on December 31st, 2009 was 452 million dirhams, continuing its strong performance in 2008 when net profits were 454 million dirhams, excluding exceptional items. 

The airline’s turnover for the full year 2009 was 2 billion dirhams, 4.5 percent lower than the 2.066 billion dirhams recorded in 2008.  Air Arabia carried 4.1 million passengers in 2009, 14.2 percent higher than the 3.6 million passengers it served in 2008.  The carrier’s seat load factor, or passengers carried as a percent of available seats, was 80 percent for the 12 months ending on December 31, 2009.

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