Flydubai reports profit of $8.6 million

Flydubai has today announced its Full-Year Results for 2016 reporting a profit of AED 31.6 million (USD 8.6 million). It has reported total revenue of AED 5 billion (USD 1.37 billion) an increase of 2.4% compared to the same period last year. The stronger second half, driven by increased passenger numbers, was impacted by downward pressure on yield leading to lower overall revenue growth reflecting a continuation of the same adverse factors reported in the first half.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said: “these results see flydubai report its fifth consecutive full-year of profitability. In 2012, our third year of operation, we carried 5.1 million passengers. This year, we have carried 10.4 million passengers demonstrating that flydubai continues to help change the way both business and leisure passengers travel around the region. An established tourism destination and global centre for business together with the UAE’s geographic location has supported the need for increased connectivity.”

Ghaith Al Ghaith, Chief Executive Officer (CEO) of flydubai, reviewing the Annual Results for 2016, commented: “Over the last two years we have seen passenger traffic grow cumulatively by 52% in terms of RPKM. We continue to demonstrate that we gain loyal customers across our network who recognise the benefits of direct air links and enjoy our onboard offering. The continuation of mainly lower fuel prices and ongoing cost management efforts are reflected in the 16% improvement in terms of ASKM over the last two years. We have however seen a difficult pricing and operating environment.”