Dubai's budget carrier flydubai, which began operations in 2009, said on Wednesday it posted a net profit of $41.4 million (Dh152 million) in 2012, in its first-ever announced financial results.
"Net profit for the year was Dh151.9 million ($41.4 million)," said the sister-firm of Emirates in a statement released at a press conference, putting total revenues in 2012 at Dh2.278 billion ($756 million).
The no-frills airline said it carried 5.1 million passengers in 2012, out of a total of 10.4 million passengers transported since the carrier began operations.
Flydubai operates a fleet of 28 Boeing narrow-body 737-800, out of an order for 50 aircraft to be fully delivered by 2016. It flies to 52 destinations in 31 countries.
The company's chief executive officer, Ghaith Al Ghaith said flydubai became profitable in the second half of 2011.
"We moved into the black for the second half of 2011, delivering three consecutive semi-annual periods of profitable growth," he said.
Flydubai operates from Dubai International, the Middle East's busiest airport that is also base to Emirates, the region's biggest carrier.
Follow Emirates 24|7 on Google News.