Air Arabia receives approval to list on Dubai Financial Market

Published July 5th, 2007 - 03:14 GMT

Air Arabia, the first and largest low-cost carrier in the Middle East, announced today that it has received the approval of the Emirates Commodities and Securities Authority (ESCA), the UAE’s capital markets regulator, to list its shares on the Dubai Financial Market (DFM).

 

Trading in shares of Air Arabia PJSC will begin on July 17, 2007, on the Dubai Financial Market (DFM). Sheikh Abdullah Bin Mohammad Al Thani, Chairman of Air Arabia, extended his thanks to UAE regulators, the Ministry of Economy, SHUAA Capital and all those who have helped bring about what he called “an important step in the history of Air Arabia.”

 

“It is important to note that Air Arabia was a pioneer in the low-cost airline industry in the region, and has experienced continued and increasing success,” Sheikh Abdullah said. “Our shareholders are an integral part of our success story, and we thank them for their vote of confidence and support.”

 

Adel Ali, Air Arabia CEO and board member said, “The listing of Air Arabia is indeed a milestone for our company, having come such a long way in a short span of time. These past few years have witnessed great achievements, growth and expansion into new markets. With the support of our shareholders we will take Air Arabia to new heights, consolidating our position as the market leader, adding new travel destinations and increasing our fleet size.”


In accordance with ESCA’s regulations, the company will publish its complete financial statements for the past two financial years, its first quarter results and its opening balance sheet on July 7, 2007, for the benefit of its current shareholders and potential future investors.

 


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