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24 February 2024

Flydubai announces H2 profit of Dh157m

By Wam

Flydubai has announced H2 profit of AED157 million (USD43 million), driven by stronger yields and revenue growth that led to minimising annual loss.

Ghaith Al Ghaith, Chief Executive Officer of flydubai, said, "In line with expectations, 2018 was a challenging year however we have continued to invest in our capacity and increased revenue. We optimised our network by increasing flight frequencies on existing routes and adding new routes and as they become established they will support our further growth."

EBITDAR was reported at 21.1 percent of annual revenue. Closing cash and cash equivalents position, including pre-delivery payments for future aircraft deliveries, is AED2.1 billion compared to AED2.4 billion last year.