The dividend, which is equivalent to 10 fils per share, mirrors another year of sound financial performance for the award-winning low-cost carrier.
The recommendation of the board of directors follows the airline’s strong financial performance during 2017, which recorded a net profit of AED662 million (USD180.2 million), an increase of 30 percent compared to 2016.
Sheikh Abdullah Bin Mohammed Al Thani, chairman, Air Arabia, noted, “We are pleased with the performance of the company which is reflected with the increase of dividends to our shareholders as compared to last year.”
Air Arabia added 21 new routes to its global network throughout 2017 from its five operating hub within the UAE, Morocco, Egypt and Jordan. The carrier also took delivery of four new aircraft and ended the year with a fleet of 50 Airbus A320 aircraft operating to 145 routes.