FlyDubai Posts Record Profit Amid Booming Gulf Air Travel
Exciting news from FlyDubai as the budget carrier reported record profits on Wednesday! The airline has experienced a surge in air travel thanks to the easing of coronavirus pandemic restrictions, contributing to this success.
Dubai’s state-owned airline, nestled in the bustling business and tourism epicenter of the United Arab Emirates, soared to new heights in 2022 with a reported profit of $327 million, showing a remarkable 43% increase from the previous year. The carrier also witnessed a substantial growth in annual revenue for 2022, skyrocketing by 72% to reach $2.5 billion.
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“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,” Ghaith Al Ghaith, the company’s chief executive officer, said in a statement.
Traffic more than doubled last year at Dubai’s airport, the busiest in the world for international travel, but still lags a record set in 2019 before the onset of the coronavirus pandemic.
FlyDubai said it carried 10.6 million passengers in 2022, up 89% from the previous year. The sister airline to long-haul carrier Emirates has also ramped up capacity, with the delivery of 17 new aircraft and the hiring of some 1,300 employees over the past year, it said.
In 2020, FlyDubai had reported losses of $194 million.
