Air Arabia approves 7% cash dividend

Sharjah: Air Arabia’s Annual General Meeting (AGM) yesterday, approved distribution of a 7 per cent cash dividend.

During the AGM, the assembly approved the report of the company’s auditors for the financial year ending December 31, 2012. For the 12 months ending December 31, 2012, Air Arabia reported a net profit of Dh425 million. The assembly also approved the balance sheet and profit and loss accounts of the company for the same period.

The first and largest low-cost carrier in the Middle East and North Africa, Air Arabia, which now operates services to 83 destinations from three regional hubs, also reported a total turnover of Dh2.9 billion in 2012, an increase of 21 per cent compared to previous year.