Air Arabia Approves 25% Dividend Amid Record-Breaking Growth in 2024

1 month ago Editor

Air Arabia’s shareholders have approved a 25% cash dividend for 2024, celebrating a record profit and impressive growth with 31 new routes added to its global network.

Air Arabia has announced the approval of a 25% cash dividend for its shareholders following a successful financial year. The dividend, which amounts to 25 fils per share, reflects the airline’s solid performance during the 2024 financial year. This move comes after the airline reported a record net profit before tax of Dh1.6 billion, marking a 4% increase compared to the previous year.

Chairman Sheikh Abdullah Bin Mohammed Al Thani highlighted that despite the challenging geopolitical and economic climate, Air Arabia experienced exponential growth in 2024. This growth was driven by expanded operating capacity, new route launches, and ongoing network expansion. The airline’s ability to thrive amid challenges is a testament to its robust business model and strategic approach, reinforced by a dedicated team and operational excellence.

Throughout 2024, Air Arabia successfully introduced 31 new routes across its six operating hubs located in the UAE, Morocco, Egypt, and Pakistan. The airline also took delivery of 10 new aircraft, bringing its fleet to 81 Airbus A320 and A321 aircraft. These aircraft now serve over 220 routes across the Middle East, Africa, Asia, and Europe, solidifying Air Arabia’s position as a key player in the global airline industry.