The low-cost carrier reported US$327 million profit
Dubai-based carrier Flydubai has announced its Annual Results for the year ending 31 December 2022.
Reflecting its business model built on cost efficiency, the airline reported a historic profit of AED1.2 billion (US$327 million), marking an increase of 43% compared to 2021.
In addition, FlyDubai reported a total annual revenue of AED9.1 billion (US$2.5 billion) compared to AED5.3 billion (US$1.4 billion) in 2021, representing an increase of 72% compared to the previous year.
Commenting on the results, Flydubai chairman His Highness Sheikh Ahmed bin Saeed Al Maktoum said: "Flydubai’s second consecutive year of profitability since the start of the pandemic is testament to the exceptional contribution of its skilled team and the positive environment we operate in, which is conducive to growth and success.
"I look forward to seeing the vital role Flydubai plays in the continued growth of the aviation sector; a key driver in realising the Dubai Economic Agenda D33.”
Flydubai chief executive officer Ghaith Al Ghaith added: “Navigating through challenging times characterised by continued fluctuating fuel prices, disruption to supply chains, rising global inflation and geopolitical unrest did not dampen our strong performance last year. Our robust cost control measures, network optimisation, strong yield and the significant fuel efficiencies of our fleet of Boeing 737 MAX aircraft have contributed to this historic financial performance."
Flydubai’s additional milestones include taking delivery of a record 17 new aircraft in one year as well as hiring 1,300 employees in what was the airline’s biggest recruitment drive to date.
For more information, visit www.flydubai.com