Flydubai posts record profit in 2023 fuelled by travel boom

flydubai posts record profit in 2023 fuelled by travel boom

Flydubai’s total revenue in 2023 rose 23% annually to Dh11.2 billion. Photo: flydubai

Flydubai’s annual profit surged to its highest-ever levels in 2023 as it carried a record number of passengers amid booming demand for air travel and Dubai’s robust economic growth.

The sister airline of Emirates posted a record profit of Dh2.1 billion ($572 million), an jump of 75 per cent from the previous year, as revenue increased by nearly a quarter, flydubai said in a statement on Thursday.

Flydubai’s total annual revenue in 2023 rose 23 per cent year-on-year to Dh11.2 billion.

The airline carried 13.8 million passengers from Dubai last year, an annual increase of 31 per cent, and set a record that exceeded its pre-pandemic level of 11 million.

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

This comes after Dubai International Airport surpassed its pre-coronavirus annual passenger traffic last year when it handled nearly 87 million passengers, a growth of 31.7 per cent year-on-year, as it edged past the 86.4 million recorded in 2019.

This is in line with Dubai achieving its best annual tourism performance last year when international arrivals to the emirate increased 19.4 per cent to 17.15 million. This exceeded the 16.73 million visitors in 2019, according to Dubai’s Department of Economy and Tourism.

More to follow …

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