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Air Arabia says Q4 net profit falls 13 pct

The Sharjah-based firm made a net profit of $16.1 million in the three months to Dec. 31

Published: Updated:

Budget carrier Air Arabia, the United Arab Emirates’ only publicly-listed airline, reported a 13 percent drop in fourth-quarter net profit on Sunday.

The Sharjah-based firm made a net profit of 59 million dirhams ($16.1 million) in the three months to Dec. 31, compared with a profit of 68 million dirhams in the corresponding period of 2014, the company said in a statement.

Air Arabia’s board of directors proposed a 2015 dividend of 0.09 dirhams per share, it said in a statement. This is in line with the payout made for 2014.