Air Arabia shareholders approve 30% dividend distribution - Khaleej Times

Air Arabia shareholders approve 30% dividend distribution. The airline announced that its net profit for the first quarter of 2024 increased by 11% to AED 370 million, compared to AED 333 million in the same period last year. Revenue also grew by 10% to AED 1.5 billion in the first quarter of 2024, up from AED 1.4 billion in the first quarter of 2023. The company's strong financial performance has allowed it to propose a dividend distribution of 30% of its share capital, which is equivalent to AED 0.275 per share. This decision was approved by the shareholders at the company's annual general meeting held on May 15, 2024. The dividend will be paid out to shareholders on June 1, 2024. Air Arabia is a low-cost carrier based in Sharjah, United Arab Emirates. It is the largest low-cost carrier in the Middle East and North Africa region. The airline operates a fleet of over 50 aircraft and serves more than 150 destinations worldwide.