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Flydubai posts AED 2.1bn total profit in 2023; passengers surge 31% YoY

Flydubai posts AED 2.1bn total profit in 2023; passengers surge 31% YoY
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UAE – Mubasher: flydubai has reported a total annual profit of AED 2.10 billion in 2023, a surge from AED 1.20 billion the year before.

The Dubai-based carrier’s total annual revenue soared to AED 11.20 billion last year from AED 9.10 billion in 2022, according to a press release.

Total cash assets, including pre-delivery payments for future aircraft deliveries, grew to AED 4.80 billion in 2023 compared to AED 4.30 billion a year earlier.

In 2023, flydubai expanded its reach significantly, launching 17 new routes and culminating the year with a network of 122 destinations across 52 countries.

The airline achieved a 31% year-on-year (YoY) surge in passenger numbers to 13.80 million passengers in 2023.

In terms of fleet expansion, flydubai welcomed 13 new aircraft in 2023, concluding the year with a total fleet size of 84 aircraft.

The Dubai Airshow 2023 marked a significant milestone for flydubai as the airline announced an $11 billion order for 30 Boeing 787 Dreamliners, slated for delivery starting in 2026.

Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said: “In its 15th year of operations, flydubai has emerged as one of the key players in the UAE’s aviation industry and a major contributor to Dubai’s economy. Its solid business model has enabled the carrier to grow exponentially even during challenging times, doubling its operating fleet and expanding its network since the pandemic."

“The decision to accelerate its aircraft deliveries during the pandemic, preserve its workforce and move forward with its ambitious network expansion plans has proven to be the correct strategy for the carrier resulting in its strongest-ever performance,” he added.

Ghaith Al Ghaith, CEO at flydubai, stated: “We will continue with our strategic network development plans that will see more destinations join the flydubai network this year starting with the five new routes announced since the start of 2024 including Basel, Riga, Sochi, Tallinn and Vilnius."

“Our commitment to innovation, operational efficiency and customer-centricity will remain the focal points in the coming years as we lay the foundations for another chapter of our journey marked by the arrival of the first wide-body aircraft from 2026,” Al Ghaith noted.

flydubai posted AED 841 million in net profits for 2021, compared to AED 712.60 million net losses in 2020.