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Low-cost carrier flydubai’s full-year 2022 profit jumped by 43% to a record AED 1.2 billion ($327 million), as revenues surged on the back of high travel demand.
Total revenues for the year ending 31 December 2022 reached AED 9.1 billion, up by 72% from the previous year’s AED 5.3 billion, the airline reported on Wednesday.
The airline had scaled up its operations to cater to a huge pent-up demand for air travel following the easing of COVID-19 restrictions.
As demand surged last year, the airline took 17 new aircraft deliveries and hired 1,300 employees. During the 12-month period, it carried a total of 10.6 million flyers, nearly doubling or up by 89% from the traffic recorded in 2021.
Adaptability, agility
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said the airline’s record performance last year, which is the “second consecutive year of profitability” since the onset of the pandemic, is a result of the airline's “adaptability and agility during challenging times.
“The carrier was quick to cater to the pent-up demand and support Dubai’s accelerated recovery,” he said.
Also contributing to the positive results are the airline’s robust cost control measures, network optimisation and significant fuel efficiencies of its fleet, according to Ghaith Al Ghaith, CEO of flydubai.
“2022 has been an exceptional year, with accelerated demand, bookended by the final few months of Expo 2020 and the unprecedented efforts to support travel to and from the World Cup in Doha,” Al Ghaith said.
The airline had launched special services between Dubai and Doha late last year during the World Cup in Qatar, operating up to 30 daily “Match Day Shuttle” flights. Between 21 November and 7 December 2022, it operated a total of 900 trips on the route, carrying more than 100,000 football fans.
Air travel continued to recover last year, with Middle Eastern carriers posting a 157.4% increase in traffic compared to 2021, according to the International Air Transport Association (IATA).
Globally, total traffic at the end of 2022 rose by 39.7% compared to December 2021 and reached nearly 80% of the December 2019 level.
(Reporting by Cleofe Maceda; editing by Seban Scaria)
