Abraaj exposure drags Air Arabia to a $166mln 2018 loss | ZAWYA MENA Edition:
Air Arabia suffered a 609.5 million dirham ($166 million) loss in 2018 as it took impairments on its exposure to collapsed private equity firm Abraaj, knocking its shares on Thursday as analysts said its dividend could be hit.
The Sharjah-based carrier, whose stock fell by more than 7 percent on the results, had posted a net profit of 630.6 million dirhams in the same period a year ago.
Air Arabia said it faced impairment charges of 1.13 billon dirhams, mainly due to exposure to Abraaj-related investments.
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