Air Arabia delivers 2015 net profit of AED 531 million
Air Arabia has announced strong full-year financial results for 2015 as the Middle East and North Africa's first and largest low-cost carrier continued to deliver healthy growth and strong levels of profitability.
Air Arabia’s net profit for the full year ending December 31, 2015 was AED 531 million, 6 per cent lower than 2014 figure of AED 566 million. Turnover in 2015 reached AED 3.8 billion, an increase of 3 per cent on the preceding 12 months as the airline continued to expand its customer base. More than 7.6 million passengers flew with Air Arabia in 2015, a 12 per cent year-on-year increase. The average seat load factor – or passengers carried as a percentage of available seats – in 2015 stood at an impressive 79 per cent.
Following its strong 2015 performance, Air Arabia’s Board of Directors proposed a dividend distribution of 9 per cent of share capital, which is equivalent to 9 fils per share. This proposal was made following a meeting of the Board of Directors of Air Arabia and is subject to ratification by Air Arabia’s shareholders at the company’s upcoming Annual General Meeting on February 25, 2016.
“2015 was a year of growth and achievement for Air Arabia as our expansion strategy, efficient operations and tight cost controls reinforced our market leading position,” said Sheikh Abdullah Bin Mohammad Al Thani, chairman of Air Arabia. “The impact of low oil prices continues to have its effect on the wider global economy, while pressure on yields and geo-political uncertainty continued to weigh on the aviation industry. Despite these challenges, Air Arabia once again delivered a strong set of numbers and remains well positioned for further growth in 2016.”