Air Arabia General Assembly approved the report of the company’s auditors for the ending fiscal year, in addition to approving the general budget and losses for the same period, and the company is classified as a public shareholding company listed in Dubai Financial Market, and this came at the conclusion of the annual meeting of the association.

The Association also approved the discharge of the members of the Board of Directors and the auditors of the responsibility for the fiscal year ending on December 31, 2018 and the appointment of auditors for the next fiscal year and determine their fees.

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The shareholders agreed with the recommendation of the Board of Directors to make provisions in relation to the financial exposure of the group to the private investment company, Abraaj.

The association agreed to appoint a new board member, Matar Al Balushi - Emirati who has more than 22 years of experience in the field of financing management and investment funds.

Air Arabia recorded revenues of 4.12 billion dirhams in 2018 and added 26 new destinations to its network to serve more than 11 million passengers through its four main centers in the Emirates Morocco and Egypt have also maintained their high seat occupancy rate, which reached 81%, over the course of 2018.

It is worth noting that, the financial results of the company earlier, showed its transformation to incur losses during the financial year ended December 31, 2018 amounting to 579.2 million dirhams, compared to a net profit of 662.3 million AED in 2017.

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