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FINANCIAL NEWS
Air Arabia distributes 8% dividends
22 Mar 2011
(MENAFN) Air Arabia stated that its board of directors approved eight percent of cash dividends to be distributed to shareholders, reported Arabian Business.
The company said that the dividends per share were down by 20 percent compared to the previous year. This comes as the low-cost carrier revealed a 31.5 percent decrease in net profit for the whole of 2010.
Air Arabia added that revenue in 2010 increase by 5.5 percent, year on year, amounting to USD566 million.
In addition, the company stated that even though profits declined, seat occupancy stood at 83 percent in 2010, compared to 80 percent a year earlier.
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