Mar. 7—Flydubai on Monday announced that it is back in the black, posting $229 million in profits in 2021, after heavy losses suffered by the world’s Covid-hit airline industry.
The Dubai-based airline swung to a profit of Dh841 million ($229 million) last year surpassing pre-pandemic figures as demand increased after travel curbs eased globally, it said on Monday.
The profit compared with a loss of Dh712.6 million in 2020 when the airline, which lacks a domestic market, was hit by international closures imposed because of the Covid-19 crisis.
Revenue jumped 86 per cent to Dh5.3 billion. The profit figures even topped the Dh198.2 million reported in 2019.
Flydubai, which is owned by Dubai government , carried 5.6 million passengers last year, a 76-per cent leap from 2020 when it lost $186 million at the height of the coronavirus pandemic.
Tremendous results
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said the tremendous results flydubai is reporting for 2021 come after a very challenging two years as a result of the Covid-19 pandemic.
He said the decisions taken by the UAE’s leadership, which saw the implementation of the precautionary safety measures throughout the customer journey, gave visitors the confidence to travel to Dubai; resulting in a 76 per cent year-on-year increase in passenger numbers.
“We remain well placed to continue to welcome passengers across our network to Dubai and beyond. Flydubai is intrinsic to Dubai’s travel and tourism industry,” he said.
Dubai, a tourism and trading hub, has since October been hosting the delayed Expo 2020 world fair, which ends on March 31.
In July 2020 Dubai became one of the world’s first locations to reopen to foreign travel.
Dubai airport last year remained the world’s busiest in terms of international passengers, numbering about 29.1 million in 2021.
Strong business model
Ghaith Al Ghaith, chief executive officer at flydubai, said flydubai’s business model remains strong and has served us well…
