FlyDubai announces record $327 million profit in 2022

Friday, March 3, 2023

Gaining from a boom in aviation travel following the easing of pandemic restrictions, budget carrier FlyDubai announced record earnings on Wednesday.

The state-owned carrier, situated in Dubai, the commercial and tourism capital of the United Arab Emirates, recorded a $327 million profit in 2022, a 43% increase over the previous year. Yearly revenue for 2022 was up 72%, to $2.5 billion, it added.

“We realized early on the great opportunities that Dubai provides and remained focused and ready to scale up our operations once the demand for travel returned,” Ghaith Al Ghaith, the company’s chief executive officer, said in a statement.

Traffic at Dubai’s airport, the busiest in the world for international travel, more than quadrupled last year, although it still lags below a record established in 2019 before the coronavirus outbreak.

FlyDubai reported carrying 10.6 million passengers in 2022, an increase of 89% over the previous year.

The sibling airline of long-haul carrier Emirates has also increased capacity, with 17 new aircraft delivered and 1,300 new staff hired in the last year.

FlyDubai reported $194 million in losses in 2020.

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