Air Arabia shareholders approve 25% dividend at AGM
Strong financial performance and dividend details
The dividend, which is equivalent to 25 fils per share, marks another year of strong financial performance for the award-winning low-cost carrier.
Record net profit and approval of AGM reports
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, marking a 4 percent increase compared to 2023. During the AGM, the report of Air Arabia's auditors, balance sheet, and profit and loss accounts were approved by the assembly for the year.
Appointment of new auditors and discharge of liability
Furthermore, the Board of Directors and auditors of the company were discharged from liability for the financial year ending December 31, 2024, while auditors for the next fiscal year were appointed and their remuneration fixed.
Chairman's statement on 2024 achievements
Sheikh Abdullah bin Mohammed Al Thani, Chairman of Air Arabia, commented, '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.'
Expansion of routes and fleet in 2024
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.
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