Flydubai announces record profit of AED 1.2 billion for 2022
flydubai welcomed 17 new aircraft - all Boeing 737 MAX 8s - in 2022, bolstering its fleet size by 25 percent
Dubai-based airline flydubai has reported historic profits of AED1.2 billion (US$327 million) for the year ending on December 31, 2022, representing a 43 percent increase from 2021. The carrier's total annual revenue grew by 72 percent to AED9.1 billion (US$2.5 billion) compared to AED5.3 billion (US$1.4 billion) in 2021.
The airline carried 10.6 million passengers, an 89 percent increase from 2021, and received 17 new aircraft, which is the highest number of deliveries in a year. flydubai also hired 1,300 employees in 2022, marking its biggest recruitment drive.
In a March 1 press release, H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said, “flydubai’s record performance for 2022 is a direct result of the carrier’s strong business model as well as its adaptability and agility during challenging times which has cemented its position as a key contributor to the success of Dubai’s aviation hub. flydubai remained committed to maintaining the highest levels of cost and operational efficiencies while preserving and growing its workforce over the past two years. This meant the carrier was quick to cater to the pent-up demand and support Dubai’s accelerated recovery."
Fuel cost continues to be the single highest operating cost for the airline with 33.9 percent of total annual operating costs, due to the substantial increase in fuel prices last year. The Boeing 737 MAX aircraft will continue to bring greater fuel efficiency to the airline’s growing fleet.
In terms of network expansion, flydubai launched 16 routes and ended the year with a network of 114; strengthening direct air links from underserved markets in the region with Dubai.
H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai
“flydubai’s second consecutive year of profitability since the start of the pandemic is a testament to the exceptional contribution of its skilled team and the positive environment we operate in, which is conducive to growth and success. I look forward to seeing the vital role flydubai plays in the continued growth of the aviation sector; a key driver in realizing the Dubai Economic Agenda D33,” Saeed Al Maktoum added.
Ghaith Al Ghaith, Chief Executive Officer at flydubai, stated, "I am proud to see our network, fleet, workforce and performance reach new heights. This is all due to the unwavering vision of the leadership of Dubai and the UAE, and the hard work and dedication of everyone at flydubai.”
