The company’s turnover for Q4 2011 reached AED638 million, an increase of 17 percent compared to AED544.8 million in 2010. Air Arabia carried 1,180,402 passengers in the final three months of last year, up two percent compared to the same period in 2010.

These results were announced following a meeting of the board of directors of Air Arabia, who have proposed a dividend distribution of 4.5 percent 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. Sheikh Abdullah bin Mohammad Al Thani, chairman of Air Arabia, described these solid financial results as a result of the carrier’s excellent cost controls and extremely appealing product offering.

“The year 2011 saw ongoing political unrest in the region, as global fuel prices also surged. While these challenging market conditions continue to impact the performance of the aviation sector here in the Middle East and worldwide, we have focused more keenly than ever on ensuring the highest level of operational efficiency,” he said.

“Air Arabia’s ability to continue to report sustained profitability and achieve solid growth margins across our network reflects the strength of our business model and robust management team.”

Air Arabia, which now operates flights to some 70 destinations from three regional hubs, also delivered strong financial and operational performance for the full year ending Dec. 31, 2011.

The airline’s net profit for the full year was in line with analyst forecasts, reaching a solid AED274 million.