The low-cost carrier FlyDubai has announced it earned a record-breaking profit of $611m (£484m) in 2024, buoyed by higher passenger numbers and lower fuel costs.
FlyDubai had revenues of $3.5bn (£2.77bn) through the year, as compared to $3bn (£2.38bn) in 2023. Profits were $572m (£453m) in 2023. The carrier flew 15.4 million passengers in 2024, an increase of 11 per cent compared to 2023.
FlyDubai is the sister carrier to the long-haul airline Emirates, both based out of Dubai International Airport, the world's busiest for international travel.
The two carriers have seen their profits rebound after the coronavirus pandemic halted worldwide travel.
Both airlines are owned by the government’s Investment Corporation of Dubai. The two carriers also operate code-share flights, increasing traffic on FlyDubai routes.
FlyDubai has a fleet of 88 aircraft, all Boeing 737 models. It flies to 131 destinations in 55 countries, including 10 new destinations such as Basel in Switzerland, Bhairahawa in Nepal and Islamabad and Lahore in Pakistan.
The airline has also seen an uptick in demand for its business class offerings, with an 18 per cent uptake across its network last year, carrying almost half a million passengers.
FlyDubai's flights to Israel's Ben Gurion International Airport continued throughout the Israel-Hamas war as other international carriers halted their flights.
It began flying the route after the United Arab Emirates diplomatically recognized Israel in 2020.
Ghaith Al Ghaith, the chief executive officer at FlyDubai, said: “Our record-breaking financial performance, for the fourth consecutive year, demonstrates our continued ability to grow our business and navigate difficult economic and geopolitical challenges through forward planning, drawing on our strength to adapt and evolve to the changing market and customer needs.
“Our collaborative approach with our key stakeholders and agility remain key drivers to this success, as well as the collective effort of our people who have been instrumental to it.”
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