Air Arabia shareholders have given their approval for the distribution of a 25 percent cash dividend for the financial year concluding on December 31, 2024, during the company’s Annual General Meeting (AGM).
The dividend, equivalent to 25 fils per share, signifies yet another year of remarkable financial performance for the award-winning low-cost airline.
The recommendation from the Board of Directors comes in light of the Sharjah-based airline’s strong financial outcomes for the year ending December 31, 2024, during which Air Arabia reported a record net profit before tax of AED1.6 billion ($435.6 million), representing a 4 percent increase compared to 2023.
At the AGM, the assembly approved the report from Air Arabia’s auditors, along with the balance sheet and profit and loss accounts for the year ending December 31, 2024.
Read more: Sharjah’s Air Arabia expands network with new route to Sochi, Russia
Board actions and auditor appointments
Additionally, the Board of Directors and the company’s auditors were discharged from liability for the financial year ending December 31, 2024. Auditors for the upcoming fiscal year were appointed, and their remuneration was established.
Sheikh Abdullah Bin Mohammed Al Thani, chairman of Air Arabia, stated, “Despite geopolitical tensions and economic challenges, Air Arabia Group sustained exponential growth in 2024, driven by increased operating capacity, new route launches, and continued network expansion. This exceptional year underscores our commitment to delivering a value-driven travel experience, strengthening our global footprint, and maintaining operational excellence. Our financial and operational performance reaffirms the strength of our business model, strategic vision, and the dedication of our team.”
Expansion of routes and fleet
In 2024, Air Arabia expanded its global network by adding 31 new routes from its six operating hubs located in the UAE, Morocco, Egypt, and Pakistan. The airline took delivery of 10 new aircraft, concluding the year with a fleet comprising 81 Airbus A320 and A321 aircraft, which operate over 220 routes across the Middle East, Africa, Asia, and Europe.
