Air Arabia shareholders approve 25% dividend distribution
Air Arabia shareholders approved the distribution of 25 percent cash dividend for the financial year ending December 31, 2024 at the company's Annual General Meeting (AGM).
The dividend, which is equivalent to 25 fils per share, marks another year of strong financial performance for the award-winning low-cost carrier, the company said.
The Board of Directors' recommendation follows the airline's robust financial performance in the year ending December 31, 2024, where Air Arabia reported a record net profit before tax of AED1.6 billion ($435.65 million), marking a 4 percent increase compared to 2023.
During the AGM, the report of Air Arabia's auditors, balance sheet, as well as profit and loss accounts were approved by the assembly for the year ending December 31, 2024.
Sheikh Abdullah Bin Mohammed Al Thani, Chairman of Air Arabia, said: 'Despite geopolitical tensions and economic challenges, Air Arabia Group sustained exponential growth in 2024, driven by increased operating capacity, new route launches, and continued network expansion. This exceptional year underscores our commitment to delivering a value-driven travel experience, strengthening our global footprint, and maintaining operational excellence. Our financial and operational performance reaffirms the strength of our business model, strategic vision, and the dedication of our team.'
In 2024, Air Arabia added 31 new routes to its global network from its six operating hubs in the UAE, Morocco, Egypt, and Pakistan. The carrier took delivery of 10 new aircraft and ended the year with a fleet of 81 Airbus A320 and A321 aircraft operating to over 220 routes across the Middle East, Africa, Asia, and Europe. - TradeArabia News Service
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