FlyDubai announces record profit as air travel in the Gulf grows strongly
DUBAI, United Arab Emirates (AP) — Low-cost airline FlyDubai reported record profits on Wednesday, benefiting from an increase in air traffic following the lifting of pandemic restrictions.
The state-owned airline, based in the business and tourism hub of Dubai in the United Arab Emirates, reported a profit of $327 million in 2022, up 43% from the previous year. Annual sales for 2022 were up 72% to $2.5 billion.
“We realized early on the great opportunities Dubai offers and remained focused and ready to scale our business once travel demand returned,” Ghaith Al Ghaith, the company’s CEO, said in a statement.
Traffic at Dubai’s airport, the busiest in the world for international travel, more than doubled last year but still falls short of a record set in 2019 before the outbreak of the coronavirus pandemic.
FlyDubai said it carried 10.6 million passengers in 2022, an 89% increase from the previous year. The sister airline of long-haul airline Emirates has also ramped up capacity, delivering 17 new aircraft and hiring some 1,300 employees in the past year.
In 2020, FlyDubai had reported losses of $194 million.
JOIN THE CONVERSATION
Anyone can read Conversations, but to contribute you must be a registered Torstar account holder. If you don’t already have a Torstar account, you can create one now (it’s free)
..