Following the conclusion of its annual general meeting (AGM) on March 16, Air Arabia announced that the assembly has approved the distribution of a 7.25 percent cash dividend for the year 2013, equivalent to 7.25 fils per share.

During the AGM, the assembly approved the report of the company’s auditors for the financial year ending Dec. 31, 2013, as well as the balance sheet and profit and loss accounts for the same period.

The assembly also discharged the directors and auditors of the company from liability for the financial year ending Dec. 31, 2013, and appointed auditors for the company for the next fiscal year in order to fix their remuneration.

The board elections took place during the meeting and the names of the board of directors for the next three years are: Sheikh Abdullah bin Mohammad Al-Thani, Adel Abdullah Ali, Ghanem Mohammed Al-Hajri, Arif Naqvi, Sheikh Mohammed bin Abdullah Al-Thani, Sheikh Khalid bin Essam Al-Qasimi and Ali Salem Al-Medfa.

Sheikh Abdullah bin Mohammad Al-Thani, chairman of Air Arabia, said: “We are very pleased to be able to share our success in 2013, our tenth year of operations, with our shareholders. Our ability to deliver growth year after year stems from a highly customer-centric business model, exceptionally efficient operating systems, and a truly world-class team of aviation professionals. Today, the Air Arabia growth story continues unabated as we expand our operations and fleet size, demonstrating our enormous confidence in the long-term fundamentals of the Middle East aviation sector.”

Air Arabia continues to deliver high levels of profitability and growth across the breadth of its operations. The carrier added eight destinations to its network in 2013 and served more than 6.1 million passengers, a 15 percent increase on the 5.3 million passengers carried in the preceding year.