Air Arabia confirms dividend; Fly540 to expand in Uganda & Entebbe; Comair to open lounge in Durban

Air Arabia (-1.0%) was down despite confirming during trading that its Board of Directors approved the payment of a cash dividend of 10% of the company's share capital for 2009 at its third Annual General Meeting (AGM). Air Arabia, now into its sixth year, broke even in its first year of operations and has reported steadily increasing profits and industry beating profit margins ever since.