Flydubai reports a profit of USD 327 million ending 2022
Flydubai has announced its annual results for the year ending 31 December 2022 and reports a profit of AED 1.2 billion (USD 327 million).
This is an increase of 43% compared to 2021.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Flydubai, said of the results:“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.”
His Highness added: “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 year of profitability since the start of the pandemic is testament to the exceptional contribution of its skilled team and the positive environment we operate in, which is conducive to growth and success. I look forward to seeing the vital role Flydubai plays in the continued growth of the aviation sector; a key driver in realising the Dubai Economic Agenda D33.”
Ghaith Al Ghaith, chief executive officer at Flydubai, said: “We realised early on the great opportunities that Dubai provides and remained focused and ready to scale up our operations once the demand for travel returned. Our resilient financial stance enabled us to maintain positive cash flows and not require the government aid that was available to us during the pandemic. 2022 has been an exceptional year, with accelerated demand, bookended by the final few months of Expo 2020 and the unprecedented efforts to support travel to and from the World Cup in Doha.
Navigating through challenging times characterised by continued fluctuating fuel prices, disruption to supply chains, rising global inflation and geopolitical unrest did not dampen our strong performance last year. Our robust cost control measures, network optimisation, strong yield and the significant fuel efficiencies of our fleet of Boeing 737 MAX aircraft have contributed to this historic financial performance.”
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