Air Arabia announced yesterday its financial results for the full year 2012, demonstrating steady growth and solid financial performance, WAM reported. For the full year ending December 31, 2012; Air Arabia reported a solid net profit of AED 425 million, registering an increase of 55 per cent compared to AED 274 million reported for the same period in 2011. The airline's turnover for the full year 2012 stood at AED 2.9 billion, an increase of 21 per cent as compared to AED 2.4 billion registered in 2011. Air Arabia carried over 5.3 million passengers in 2012, registering a 13 per cent increase compared to 4.7 million passengers in 2011. The carrier's seat load factor - or passengers carried as a percentage of available seats - stood at impressive 82 per cent for the full year ending December 31, 2012. These results were announced following a meeting of the Board of Directors of Air Arabia, who have proposed a dividend distribution of seven per cent of capital, which is equivalent to seven fils per share. This proposal is subject to ratification by the shareholders of Air Arabia at the company's upcoming Annual General Meeting. On the back of strong passenger numbers, the airline's fourth quarter net profit stood at AED 83 million, increase of 6 per cent compared to AED 78 million in 2011. The fourth quarter turnover reached AED 755 million, representing an increase of 18 per cent compared to AED 638 million reported for the same period in 2011.
