Flydubai net profit soars 43% to $327mln

Flydubai net profit soars 43% to $327mln

Dubai-based carrier flydubai has reported a historic profit of AED1.2 billion ($327 million) for 2022, an increase of 43% compared to 2021, reflecting the carrier’s strong business model built on cost efficiency and agility.

Reporting the airline's annual results for the year ending December 31, it said total annual revenues hit AED9.1 billion ($2.5 billion) compared to AED5.3 billion ($1.4 billion) in 2021, an increase of 72%.

The airline carried 10.6 million passengers, an increase of 89% compared to 2021. It took delivery of 17 new aircraft, a record number of deliveries received in one year.

The airline also hired 1,300 employees, the airline’s biggest recruitment drive in any year.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said: “flydubai’s record performance for 2022 is a direct result of the carrier’s strong business model as well as its adaptability and agility during challenging times which has cemented its position as a key contributor to the success of Dubai’s aviation hub.

"flydubai remained committed to maintaining the highest levels of cost and operational efficiencies while preserving and growing its workforce over the past two years. This meant the carrier was quick to cater to the pent-up demand and support Dubai’s accelerated recovery. flydubai’s second consecutive