SHARJAH / WAM
Following the conclusion of its Annual General Meeting, the Board of Directors of Air Arabia has announced that the assembly has approved the distribution of a 9 percent cash dividend of the companyâ€™s share capital for the year 2015.
During the meeting, the General Assembly approved the auditorâ€™s report for the financial year ending on the 31st of December, 2015 and the general budget and accounts of profits and losses of the company for the same period.
The AGM also ratified agreement on discharging the Board of Directorsâ€™ members and the auditors from liability for the financial year ended on December 31st, 2015. The assembly appointed auditors for the company for the year 2016 and set their fees. Sheikh Abdullah bin Mohammed Al Thani, Chairman of Board of Directors, said that Air Arabia has achieved another year of growth and significant accomplishments and that the company is pleased that this success reflects on shareholders through the distribution of a dividend of 9% on them. In the financial year ended on December 31st, 2015, Air Arabia achieved a net profit of AED531mn, while the companyâ€™s revenues reached AED 3.8 bn and the company carried more than 7.6mn passengers over the course of the year, representing a gain of 12 percent compared to 2014.