Wednesday 20, June 2018 by Kudakwashe

Air Arabia says no significant impact from Abraaj

 

Concerns about Air Arabia’s exposure to Abraaj led to the carrier’s share prices falling over seven per cent on Monday

  

Sharjah based low cost carrier, Air Arabia said investments in Abraaj will not have significant impact on its liquidity or future operations.

In a statement to the Dubai Financial Market, the carrier said its operations are going on normally, adding that it will periodically disclose any significant updates regarding its investments in Abraaj.

Abraaj Group, the Middle East’s largest buyout firm, has been facing various allegations concerning the misusage of money, which resulted in splitting the group’s investment management business and holding company.

  

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