Air Arabia reports 2010 results, to reduce annual dividend; Precision Air applies to list
Air Arabia's 2010 net profit fell 31.5% year-on-year to USD84.3 million. The carrier announced it intends to reduce its annual dividend from AED10 (USD2.72) in 2009 to AED8 (USD2.18) for 2010. Chairman Sheikh Abdullah Bin Mohammad Al Thani stated he saw "significant growth opportunities in 2011 based on Air Arabia's ongoing expansion strategy". Air Arabia shares finished the day 1.7% lower.
