Air Arabia profits fall

08 February 2016

9 fils per share earning has been proposed

UAE’s budget airline Air Arabia reported a 6 per cent decline in profits and 3 per cent rise in revenues for the full year of 2015.

The airline’s profits fell from AED566m ($154m) in 2014 to  AED531m ($144.6m) in 2015, while revenues increased to AED3.8bn ($1.03bn).

The number of passengers handled by the airline grew by 12 per cent over the previous year, while the airline’s seat load factor averaged 79 per cent.

Air Arabia said its board of directors has proposed a dividend distribution of 9 per cent of share capital, which is equivalent to 9 fils per share. The dividends proposal will have to be ratified during the firm’s annual general meeting scheduled for 25 February.

Air Arabia added 23 new routes to its network in 2015, including a flight to Urumqi in western China. It also opened its fifth aviation hub at the Amman Queen Alia International airport in Jordan last year.







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