Flydubai swings to annual profit as Boeing compensation boosts results – The National

Flydubai swings to annual profit as Boeing compensation boosts results – The National

Flydubai swings to annual profit as Boeing compensation boosts results. Budget airline makes profit of Dh198.2 million in 2019 after net loss of Dh159.8m in 2018. Budget airline Flydubai - the second-biggest customer of the grounded Boeing 737 Max - swung to an annual profit in 2019, helped by compensation from the plane maker and a drop in operating costs.. "Discussions are continuing between the parties regarding the ongoing impact of the grounding.". Flydubai, the UAE's sole 737 Max operator, had ordered 250 of the narrowbody jets for its expansion plans and took delivery of 14 Maxs.. "It is regrettable that our growth strategy has been significantly impacted by the grounding of the Boeing 737 Max," Mr Ghaith said.. State-owned Flydubai, the sister airline of long-haul operator Emirates, said the terms of the compensation agreement with Boeing are confidential but that discussions are continuing about the ongoing impact of the grounding.. Flydubai carried 9.6 million passengers last year, fewer than the 11 million travellers in 2018, as its fleet size shrank by more than a quarter to 45 jets as of December 31 2019 following the Max grounding.. Fuel costs made up 25.8 per cent of total annual operating costs