Flydubai Reports A Record Dh2.1 Billion Profit And Adds 1,000 Additional Staff!

Pilots, cabin staff, and engineers made up 73% of the new hires to support the airline's expanding fleet and network.

Flydubai announced on Thursday that, due to robust organic growth and strong development in the aviation sector, its 2023 earnings increased by 75% to a record Dh2.1 billion.

The carrier located in Dubai reported a 23% growth in overall annual revenue to Dh11.2 billion in 2023 from Dh9.1 billion in 2022.

By 2023, Flydubai had 5,545 employees, with over 1,000 more joining various divisions. Pilots, cabin crew, and engineers made up about 73% of the new hires to support the airline's expanding fleet and network. The carrier's workforce of UAE nationals has more than doubled.

One of the primary economic growth engines in the UAE in the post-pandemic period has been the aviation sector. Emirates Airlines also reported a record Dh10.1 billion profit—a 138% increase—for the first half of 2023 in November.

13.8 million passengers were transported across its network, a 31% increase from 2022. The demand for Business Class increased by 32% in the GCC, Central Asia, and the Caucasus regions. 

Flydubai reported a 56% rise in passengers on its GCC network and a 36% increase in passengers in Europe year over year.

By the end of 2023, Flydubai had established 17 routes and had expanded to 122 destinations across 52 countries.

By the end of 2023, the local airline has taken delivery of 13 new aircraft- 84 aircraft, comprising 29 Next-Generation Boeing 737-800s, 52 Boeing 737 MAX 8, and 3 Boeing 737 MAX 9s. After the end of the lease, three Next-Generation Boeing 737-800 aircraft were returned to their lessors.

Flydubai ordered thirty Boeing 787 Dreamliners, scheduled for delivery starting in 2026, for $11 billion at the Dubai Airshow in 2023. The airline diversified its current fleet of all Boeing 737 aircraft with this first wide-body order.

Due to the high fuel cost, it was stated that fuel expenditures remained the airline's largest operational expense, making up 32% of total yearly operating costs.

Delay in deliveries

According to the airline, four fewer aircraft will be delivered in 2023 due to continuous issues with the manufacturer's delivery timetable. To address the delays in aircraft delivery and accommodate the increased demand for travel, flydubai and Smartwings engaged in a second Aircraft, Crew, Maintenance and Insurance (ACMI) agreement for six wet-leased aircraft.

"Flydubai has emerged as one of the key players in the UAE's aviation industry and a major contributor to Dubai's economy. Its solid business model has enabled the carrier to grow exponentially even during challenging times, doubling its operating fleet and expanding its network since the pandemic," said Sheikh Ahmed bin Saeed Al Maktoum, chairman of Flydubai.

"The decision to accelerate its aircraft deliveries during the pandemic, preserve its workforce and move forward with its ambitious network expansion plans has proven to be the correct strategy for the carrier, resulting in its strongest-ever performance," he said.

Flydubai's CEO, Ghaith Al Ghaith, reported that the airline had its most profitable year ever, exceeding all pre-pandemic levels.

#dubai #uaenews #latestupdate2024 #uaennews2024 #airlines #aviation #uaetourism #dubaiairport