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Air Arabia approves 7.25% cash dividend

Sharjah: Air Arabia announced Sunday that the company’s board of directors has approved the distribution of a 7.25 per cent cash dividend for the year 2013, equivalent to 7.25 fils per share.

“We are very pleased to be able to share our success in 2013, our tenth year of operations, with our shareholders. Our ability to deliver growth year after year stems from a highly customer-centric business model, exceptionally efficient operating systems, and a truly world class team of aviation professionals. Today, the Air Arabia growth story continues unabated as we expand our operations and fleet size, demonstrating our enormous confidence in the long-term fundamentals of the Middle East aviation sector,” said Shaikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia.

The carrier added eight destinations to its network in 2013 and served more than 6.1 million passengers, a 15 per cent increase on the 5.3 million passengers carried in the preceding year. The airline’s seat load factor — or passengers carried as a percentage of available seats — for the full year ending December 31, 2013, stood at 80 per cent. Air Arabia reported a net profit of Dh435 million for the full year 2013 while Turnover increased by 14 per cent year-on-year to reach Dh3.2 billion.