Despite Delivery Delays, flydubai Reports Record Profit

Despite Delivery Delays, flydubai Reports Record Profit
Photo Credit: Anna Zvereza via Wikimedia Commons.

flydubai has today revealed their highest ever profit, totaling $572m, a whopping 75% increase compared to 2022. All of this despite delivery delays.

The airline has made significant waves in the last 12 months, growing to monumental levels over the course of 2023.

Without further ado, let’s get into it…

flydubai Record Profits…


Despite Delivery Delays, flydubai Reports Record Profit
Anna Zvereva from Tallinn, Estonia, CC BY-SA 2.0 https://creativecommons.org/licenses/by-sa/2.0, via Wikimedia Commons

As mentioned above, flydubai recorded a profit of $572m, an increase of 75% compared to 2022.

This comes off the back of revenues totaling $3bn, which also represents an increase of 23% compared to the year previous.

13.8m passengers were handled, which is also up by 31%, with overall capacity up 27%.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai had this to say on the results:

“In its 15th year of operations, flydubai has emerged as one of the key players in the UAE’s aviation industry and a major contributor to Dubai’s economy.”

“Its solid business model has enabled the carrier to grow exponentially even during challenging times, doubling its operating fleet and expanding its network since the pandemic.”

“This remarkable achievement has been made possible due to the vision of the UAE’s leadership and the progressive policies of His Highness Sheikh Mohammed bin Rashid Al Maktoum which are conducive to the success of the aviation industry and flydubai as a key contributor to the sector.”

“The decision to accelerate its aircraft deliveries during the pandemic, preserve its workforce and to move forward with its ambitious network expansion plans has proven to be the correct strategy for the carrier resulting in its strongest-ever performance.”

“I am proud of the work the team has done to achieve these outstanding results, setting the bar even higher for the years to come as flydubai continues to play an intrinsic role in supporting Dubai’s leading position on the global trade, tourism and aviation stage.”

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Delivery Delays on 737 MAX Aircraft…


Despite Delivery Delays, flydubai Reports Record Profit
Anna Zvereva from Tallinn, Estonia, CC BY-SA 2.0 https://creativecommons.org/licenses/by-sa/2.0, via Wikimedia Commons

Within their financial results, flydubai also revealed that they were four aircraft short in 2023, due to continued delivery delays at the Boeing factory.

In a statement, they said the following on this:

“Ongoing challenges with the aircraft manufacturer’s delivery schedule have resulted in four fewer aircraft being delivered in 2023.”

“To mitigate the delays in aircraft deliveries and to meet the surge in demand for travel and add capacity, particularly during peak travel periods, flydubai entered another Aircraft, Crew, Maintenance and Insurance (ACMI) agreement with Smartwings for six wet-leased aircraft. “

Whilst this may be seen as a major issue in the backdrop of the continued crisis involving the Boeing 737 MAX, flydubai has taken steps to mitigate any delays, with the Smartwings aircraft able to accommodate the stopgap.

Overall…


Photo Credit: ronen fefer via Wikimedia Commons.

Overall, flydubai had a very successful 2023, which has come off the back of expanding into new destinations around the world, and through the delivery of new aircraft to accommodate this.

Whilst delivery delays remain an issue for the airline, such mitigations have been made, which will allow the carrier to continue their growth plans accordingly.

All eyes will be on what their 2024 will look like, especially as new routes keep getting introduced by the airline.

Things are going extremely well, that’s for sure.

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By James Field - Editor in Chief 4 Min Read
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