Sharjah-based Air Arabia, a leading low-cost carrier in the Middle East and North Africa, today (April 8)endorsed the success of the strategic planning undertaken during 2020 by the company.
The early measures taken by the management team helped in controlling cost and preserving liquidity as the global and regional aviation industry continues to deal with the impact of Covid-19 pandemic, said asenior officials at the Annual General Meeting (AGM).
The AGM, held virtually, approved the company board's report on its activity and the balance sheet and profit and loss accounts for the same period.
The assembly also approved the board’s recommendation not to distribute dividends for 2020 or the its remuneration for the year.
Speaking at the meeting, Chairman Sheikh Abdullah Bin Mohammed Al Thani said it was another successful year of Air Arabia’s journey.
"Air Arabia’s ability to record two profitable quarters during 2020 despite the continued impact of the Covid-19 pandemic, is a testament to the robust business model it operates and the carrier’s management team," Al Thani stated.
"While 2021 continues to be a challenging one for the industry, we remain confident about the fundamentals of the aviation sector and the vital role air travel will continue to play in economic recovery. At Air Arabia, we remain focused on adopting further measures to help improve the overall cost structure of the group and will continue to gradually resume operations where possible," he added.-TradeArabia News Service