Air Arabia announces dividend payment

Air Arabia's annual general meeting approved the proposal by the company's board for an 8% cash dividend. The carrier reported a 2010 net profit of AED309.6 million (USD80.2 million). Shares in Air Arabia were up 3.2% on Monday.

The only other major share movements for Middle East and North African listed carriers were Royal Jordanian, which lost 4.3%, and Lonrho, up 1.6%.

Selected MEAAD daily share price movements (% change): 21-Mar-2011