Dubai – Mubasher: The equityholders of Air Arabia agreed to the board’s recommendation of paying out 15% of the capital as cash dividends for 2022.
During their annual general meeting (AGM) that was held on 14 March, the shareholders greenlighted the distribution of 15 fils per share, according to a bourse disclosure.
The board members’ proposal followed the profitable financial performance in 2022, where Air Arabia registered an annual surge of 70% in net profit to AED 1.22 billion from AED 719.92 million in 2021.
Chairman of Air Arabia, Sheikh Abdullah bin Mohammed Al Thani, commented: “The company’s 2022 profitability is considered the best in Air Arabia Group’s operating history and reflects our robust business model and perceptive growth strategy.”
Al Thani added: “We are committed to continuing our excellent achievements and to driving operational efficiency across our business.”
Last year, the DFM-listed company expanded its global network with the addition of 24 new routes from its operating seven hubs in the UAE, Morocco, Egypt, Armenia, and Pakistan.
The airline also partnered with DAL Group to form Air Arabia Sudan that is a joint venture (JV) company based in Khartoum.
Furthermore, the group launched operations of its latest JVs airlines in Armenia and Pakistan, Fly Arna and Fly Jinnah.
