Air Arabia shareholders approve 10% cash dividend at AGM

Air Arabia said its shareholders have approved the distribution of 10 percent cash dividend for the financial year ending December 2017 at the company’s Annual General Meeting (AGM) in Sharjah.
The dividend, which is equivalent to ten fils per share, mirrors another year of sound financial performance for the award-winning low-cost carrier, the airliner said in a statement.

The firm recorded a 30 percent increase in net profit in 2017 to Dh662 million.
Air Arabia added 21 new routes to its global network in 2017 from its five operating hubs in the UAE, Morocco, Egypt and Jordan. The carrier took delivery of four new aircraft and ended the year with a fleet of 50 Airbus A320 aircraft operating to 145 routes across the Middle East, Africa, Asia and Europe.