Air Arabia’s shareholders greenlight 20% dividend distribution for 2023

Air Arabia’s shareholders greenlight 20% dividend distribution for 2023

Dubai – Mubasher: The shareholders of Air Arabia approved the distribution of a 20% cash dividend for the financial year that ended on 31 December 2023, according to a press release.

During  the company’s Annual General Meeting (AGM), the shareholders agreed to pay 20 fils per share

The board’s proposal aligns with the airline’s robust financial performance after recording net profits of AED 1.50 billion, an annual increase of 27% from AED 1.20 billion.

Abdullah bin Mohammed Al Thani, Chairman of Air Arabia, said: “Amidst the challenges of the global aviation landscape, Air Arabia's resilience and strategic foresight have propelled us to yet another year of remarkable performance during 2023.”

“Our dedication to innovation, efficiency, and customer-centricity remains unwavering, driving sustainable growth and shareholder value,” Al Thani continued.

Last year, Air Arabia expanded its business by adding 26 new routes to its global network from its operating seven hubs in the UAE, Morocco, Egypt, Armenia, and Pakistan.

The carrier took delivery of 10 new aircraft and ended the year with a fleet of 73 Airbus A320 and A321 aircraft operating over 206 routes across the Middle East, Africa, Asia, and Europe.

Air Arabia’s shareholders greenlight 20% dividend distribution for 2023