flydubai, the sister airline of Emirates, has announced its highest-ever annual profit of AED2.1 billion ($572 million) in 2023, driven by a surge in passenger numbers amidst booming demand for air travel and Dubai’s robust economic growth. Its annual profits marked a significant jump of 75 percent compared to 2022. This remarkable achievement was fueled by a 23 percent increase in revenue which reached AED11.2 billion.
Unprecedented passenger numbers
The airline also witnessed a remarkable increase in passenger numbers. It carried a total of 13.8 million passengers from Dubai in 2023. This represents a remarkable annual increase of 31 percent, surpassing its pre-pandemic level of 11 million passengers.
flydubai attributes the exceptional performance to strategic decisions made during the pandemic. These decisions included accelerating aircraft deliveries, preserving the workforce, and advancing ambitious network expansion plans. The success of these strategies has propelled flydubai to its strongest-ever performance.
“In its 15th year of operations, 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.
Dubai’s tourism growth
flydubai’s success mirrors the robust growth of Dubai’s aviation and tourism sectors. Dubai International Airport surpassed its pre-COVID-19 annual passenger traffic in 2023, handling nearly 87 million passengers. This marks a growth of 31.7 percent year-on-year. Similarly, Dubai achieved its best annual tourism performance, with international arrivals increasing by 19.4 percent to 17.15 million visitors, surpassing the pre-pandemic levels of 2019.
“Building on the momentum from our previous strong performance, we continued to grow surpassing all pre-pandemic levels to achieve the most profitable year in the history of the airline. More than 108 million passengers have chosen flydubai since our first flight took off in 2009,” Flydubai CEO Ghaith Al Ghaith said.
Read: Dubai International remains world’s busiest airport
Future outlook
flydubai ended 2023 with 122 routes through 52 countries. In addition, more than 3.7 million passengers utilized its code partnership with Emirates, with access across the joint network of 222 destinations. Furthermore, at the Dubai Airshow 2023, flydubai placed an $11 billion order for 30 Boeing 787 Dreamliners to be delivered by 2026.
With the continuous growth in passenger numbers and tourism arrivals, flydubai remains optimistic about the future. The airline will be able to capitalize on the strong demand for air travel and further contribute to Dubai’s position as a leading global aviation and tourism hub.
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