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Air Arabia Board recommends 9% dividends for 2014

Air Arabia Board recommends 9% dividends for 2014
Photo Credit: Arabianeye-Reuters
Air Arabia
AIRARABIA
1.09% 2.78 0.03

 

Dubai – Mubasher: The Board of Directors of Dubai-listed Air Arabia has proposed a dividend distribution amounting to nine percent of capital, or 9 fils per share. This proposal is subject to ratification by the shareholders of Air Arabia at the company’s upcoming Annual General Meeting (AGM).

The airline announced today, Sunday, its financial results for the full year ending December 31, 2014, reflecting another year of continued growth and high levels of profitability. Air Arabia reported a net profit of AED 566 million, recording a significant 30% leap compared to AED 435 million in FY13.

“The airline’s turnover for the full year 2014 reached AED 3.7 billion, an increase of 17% on 2013, driven by increased passenger numbers”, Air Arabia announced in its statement to the Dubai Financial Market (DFM), adding that it carried more than 6.8 million passengers in 2014, which 12% more than its passenger figures from 2013.

“The average seat load factor – or passengers carried as a percentage of available seats – for the same period stood at an impressive 81%”, the statement added.