Press releases, Reports & Disclosures for Air Arabia PJSC

On 13th May 2024, the Board of Directors of Air Arabia held a meeting at 3:00 pm. The meeting was previously announced and during the meeting, the board approved the financial statements for Q1 2024. The information was shared by Abdelrahman Bin Taliah, the Director of Corporate & Government Affairs.

Air Arabia, the largest low-cost carrier in the Middle East and North Africa, has reported a net profit of AED 266 million for the first quarter of 2024, which is 22% lower than the AED 342 million earned in the same period in 2023. However, the airline's turnover increased by 8% to AED 1.54 billion, and the number of passengers carried rose by 13% to 4.4 million. Despite economic and geopolitical uncertainties, the company maintains a strong financial performance due to its commitment to operational excellence and value-driven products.

The CEO of Air Arabia, Abdelrahman Bin Taliah, has announced that a Board of Directors meeting is scheduled for 13th May 2024 at 3:00 pm. The primary agenda for the meeting will be to discuss the financial results of Q1 2024. The information was shared with Dr. Maryam Al Suwaidi, CEO of the Emirates Securities and Commodities Authority (ESCA), and Mr. Hamed Ahmed Ali, CEO of Dubai Financial Market (DFM).

On March 15, 2024, Air Arabia held its Annual General Meeting (AGM) as previously announced. The AGM approved the following: the Board of Directors' report on the company's activities; the External Auditors' report; the Balance Sheet and the Profit and Loss Accounts; a 20% Cash Dividend Distribution, equating to 20 Fils per share; board remuneration; absolution of the board members and the External Auditor of responsibility for the year 2023; and the appointment of the external auditor for 2024 along with their fee. The meeting was communicated to Dr. Maryam Al Suwaidi, CEO of ESCA, and Mr. Hamed Ahmed Ali, CEO of DFM, by Abdelrahman Bin Taliah, Director of Corporate & Government Affairs.

Air Arabia Company (Public Joint-Stock Company) is inviting shareholders to its Annual General Assembly Meeting (AGM) to be held both virtually and physically at their head office on Airport Road, next to Sharjah International Airport, at 11:00 am on Friday, 15/03/2024. The agenda includes the approval of the Board of Directors' report on the company's activities and its financial position for the fiscal year ended 31/12/2023, the Auditor’s Report for the same period, and the company's balance sheet and profit & loss account. The board is also proposing a cash dividend distribution of 20% of the share capital, equivalent to 20 fils per share. The meeting will also consider the approval of the directors’ remunerations, discharge the Board of Directors and Auditors from liabilities for the fiscal year ended on 31/12/2023, and appoint external auditors for the fiscal year 2024. Electronic registration, attendance, and voting will be available, with details sent via SMS to shareholders a day prior to the AGM.

Air Arabia reported a record net profit of AED 1.5 billion in 2023, marking a 27% increase from the previous year. The airline's turnover also rose by 14% to AED 6 billion. The number of passengers carried by the airline increased by 31% to 16.7 million. The Board of Directors has proposed a cash dividend distribution of 20 fils per share, which is subject to approval at the Annual General Meeting.

On 13th February 2024, the board of directors of Air Arabia held a meeting, as previously announced. During the meeting, the board approved the audited financial statements for the year 2023 and recommended a cash dividend distribution of 20% of the capital.