Latest news with #Dhs1.6
Gulf Today
17-03-2025
- Business
- Gulf Today
Air Arabia shareholders approve 25 per cent dividend distribution at Annual General Meeting
Air Arabia shareholders approved the distribution of 25 per cent cash dividend for the financial year ending December 31, 2024 at the company's Annual General Meeting (AGM). The dividend, which is equivalent to 25 fils per share, marks another year of strong financial performance for the award-winning low-cost carrier. The Board of Directors' recommendation follows the airline's robust financial performance in the year ending December 31, 2024, where Air Arabia reported a record net profit before tax of Dhs1.6 billion, marking a 4 percent increase compared to 2023. During the AGM, the report of Air Arabia's auditors, balance sheet, as well as profit and loss accounts were approved by the assembly for the year ending December 31, 2024. Furthermore, the Board of Directors and auditors of the company were discharged from liability for the financial year ending December 31, 2024, while auditors for the next fiscal year were appointed and their remuneration fixed. Sheikh Abdullah Bin Mohammed Al Thani, Chairman of Air Arabia, said, 'Despite geopolitical tensions and economic challenges, Air Arabia Group sustained exponential growth in 2024, driven by increased operating capacity, new route launches, and continued network expansion. This exceptional year underscores our commitment to delivering a value-driven travel experience, strengthening our global footprint, and maintaining operational excellence. Our financial and operational performance reaffirms the strength of our business model, strategic vision, and the dedication of our team.' In 2024, Air Arabia added 31 new routes to its global network from its six operating hubs in the UAE, Morocco, Egypt, and Pakistan. The carrier took delivery of 10 new aircraft and ended the year with a fleet of 81 Airbus A320 and A321 aircraft operating to over 220 routes across the Middle East, Africa, Asia, and Europe. WAM
Gulf Today
04-03-2025
- Business
- Gulf Today
Salik reports Dhs2.3 billion of revenue in 2024
Salik Company, Dubai's exclusive toll gate operator, today announced its financial results for year-ended 31st December 2024. Total Revenue for the full year 2024 grew by 8.7 per cent YoY to reach Dhs2.3 billion. In a statement on Tuesday, the company said that EBITDA for the full year reached Dhs1.6 billion, a 13.6 per cent YoY growth. Salik's net profit before taxes totalled Dhs1,279.7 million in FY24, marking a strong 16.6 percent YoY increase, while it generated net profit after taxes of Dhs1,164.5 million in FY24, a 6.1 per cent YoY increase. In light of the strong year performance, the Board of Directors propose a dividend of Dhs619.8 million to be paid during H1 2025 (equivalent to 8.2645 Fils per share). This brings total dividends for FY24 to Dhs1,164.5 million, representing 100 per cent of FY24's net profit and a 6.1 per cent YoY increase compared to FY23. In terms of operations, total revenue-generating trips recorded 498.1 million, rising by 8.0 per cent YoY at the back of the launch of the two new Salik gates. Mattar Al Tayer, Chairman of the Board of Directors of Salik, said, 'Salik has reported a very strong year, with healthy revenue growth and record profitability performance.' 'During the past year, Salik proudly reached significant strategic milestones, having introduced two new toll gates within the core tolling business and established multiple partnerships. These strategic partnerships support our ambition to become a global leader in providing sustainable and smart mobility solutions,' he added. Ibrahim Sultan Al Haddad, Chief Executive Officer of Salik, stated, 'We are optimistic about the positive trends in Dubai's economy, which align with and support our growth and vision. We are pleased to revise our guidance for FY25 upwards, projecting revenue growth of 28-29 per cent compared to FY24.'
