Flydubai Hits Big with Record Profit in 2023

Low-cost airline flydubai has announced an unprecedented profit of $572 million for the year 2023, propelled by a record number of passengers carried across its network.

Based in the heart of the business and tourism hub of Dubai, in the United Arab Emirates, flydubai recorded sales of $3 billion, marking a notable 23% increase on the previous year's $2.5 billion. With 13.8 million passengers carried, the company beat its pre-pandemic record of 11 million passengers in one year, also surpassing the $327 million profit achieved in 2022. This expansion was accompanied by a 27% increase in capacity, reinforced by the integration of 13 new Boeing 737 aircraft into its fleet.

Since it was founded in 2009, flydubai has continually expanded its fleet, which consists exclusively of Boeing 737s. In 2023, the company not only regained its pre-health crisis capacity, but also continued its expansion by signing a new ACMI (Aircraft, Crew, Maintenance, Insurance) agreement with Smartwings for the lease of six aircraft with crew. Currently operating with 30 Boeing 737-800s, flydubai has made a significant bet on the MAX family, with 47 MAX 8s already in service and a total of 69 yet to be delivered, plus 3 MAX 9s and 67 others awaiting delivery. The company has also placed an order for 30 Boeing 787-9 Dreamliners.

Ghaith Al Ghaith, CEO of flydubai, expressed his satisfaction with the performance of 2023, stating that the airline had not only surpassed pre-pandemic business levels but had also achieved the most profitable year in its history.

Flydubai, sister airline to long-haul carrier Emirates, shares Dubai International Airport as its base, recognized as the world's busiest for international travel. The airport has also announced that it has exceeded its own pre-pandemic traffic records for 2023, approaching its historic peak of 89.1 million passengers reached in 2018.

Collaboration between flydubai and Emirates, notably via code-share agreements, is contributing to the increase in traffic on routes operated by flydubai.

Source: Air Journal