Air Arabia (PJSC), the Middle East and North Africa's first and largest low-cost carrier, reported today a net profit of AED 78.7 million for the three months ending December 31, 2011, an increase of seven per cent compared to AED 73.6 million in the fourth quarter of 2010.
The company's turnover for the fourth quarter 2011 reached AED 638 million, an increase of 17 per cent compared to AED 544.8 million in 2010. Air Arabia carried 1,180,402 passengers in the final three months of last year, up two per cent compared to the same period in 2010.
These results were announced following a meeting today of the Board of Directors of Air Arabia, who have proposed a dividend distribution of 4.5 per cent of capital which is equivalent to 4.5 fils per share. This proposal is subject to ratification by the shareholders of Air Arabia at the company's upcoming Annual General Meeting.
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