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flydubai incurs $53.6m loss in H1

flydubai incurs $53.6m loss in H1
Total revenue remained unchanged at AED 2.8 billion in H1-19

UAE – Mubasher: flydubai, a state-owned budget airline in Dubai, revealed it has incurred a loss of AED 196.7 million ($53.6 million) for the first half of 2019, down 38% from in H1-18.

Total revenue remained unchanged at AED 2.8 billion ($759 million) during the six-month period ended 30 June 2019 as compared to the prior-year period, according to a press release.

Moreover, the airline has reported a 14.9% year-on-year decline in available seat kilometer (ASKM), reaching 12,877 million.

The number of passengers through flydubai stood at 5 million during the first six months of 2019, falling by 7.5% as compared to H1-18.

Ghaith Al Ghaith, CEO at flydubai, commented: “Our performance has however been significantly impacted by the grounding of the Boeing 737 MAX aircraft and our Half-Year Results are not representative of what we had expected to report; we were expecting a significantly improved performance.”

Additionally, fuel costs hit AED 740 million during the January-June period of 2019, down by 17.3% year-on-year from AED 895 million, the airline highlighted.

Ancillary revenue, which includes baggage, cargo, and inflight sales, amounted to AED 249 million ($68 million) for H1-19, versus AED 263 million ($72 million) in the corresponding period of 2018.