flydubai Reports Full-Year Results for 2017

By egor Tuesday, 27 February 2018 11:37 AM

flydubai Reports Full-Year Results for 2017

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flydubai sees strong growth in revenues, record passengers and sustained profit. Commenting on the announcement of the airline’s Full-Year Results for 2017, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said: “the Results announced today demonstrate the key role that flydubai continues to play in the development of trade and tourism in the UAE.  2017 also saw flydubai place its third and largest aircraft order illustrating its contribution to Dubai as a centre of aviation and represents the scale of the ambition planned for the airline.”

Commenting on the expanded codeshare announced last year, His Highness Sheikh Ahmed bin Saeed Al Maktoum, said: “in its early stages, the partnership with Emirates has enjoyed a significant response from passengers who recognise the benefits of travelling around the world on a single ticket.  As the opportunities presented by the codeshare progress it will create new passenger flows going forward.”

Ghaith Al Ghaith, Chief Executive Officer of flydubai, commenting on the financial and operational performance of the airline, said: “the oil price continues to shape the business landscape and it remains a fine balance between fares, yields and passenger growth.  Despite the socio-economic environment we have seen across our network, we have record numbers of passengers travelling with us as well as sustained growth in our revenue.”

Looking to the year ahead, Al Ghaith, added: “the introduction of new and more fuel efficient aircraft into our fleet will be a positive influence and we will see greater benefit as more Boeing 737 MAX 8 aircraft join the fleet.  We know how important aviation is to the business landscape and we remain confident about the road ahead.”

Arbind Kumar, Senior Vice President, Finance of flydubai, said: “our persistent and rigorous approach to cost management continues to ensure that the business remains robust to support our sustainable growth over the next few years.”

- flydubai has today, 21 February 2018, announced its Full-Year Results for the year ending 31 December 2017.

- flydubai reports total revenue of AED 5.5 billion (USD 1.5 billion) compared to AED 5 billion (USD 1.37 billion) last year; an increase of 9.2% compared to the same period reported in last year’s results.

- Reports a profit of AED 37.3 million (USD 10.1 million); the airline has continuously reported Full-Year profitability since 2012.

- The aviation sector continues to be a key contributor to the development of the business landscape in support of international trade links.

- Carried 10.9 million passengers – a record number for the airline.  Passenger numbers grew by 5.5% compared to the previous year.

- With up to 295 aircraft on order flydubai becomes one of the world’s top ten airlines in terms of order backlog.  Represents the scale of the ambition planned for the airline.

Outlook for 2018

Looking ahead, flydubai has announced the launch of 10 routes which will start operations during the first six months of 2018 and will further enhance connectivity across its network.

The airline will take delivery of seven aircraft during the course of the year.  In line with its strategy to maintain a young and efficient fleet, these aircraft will support flydubai’s continued growth as well as replace four aircraft in the fleet which will be retired.  Positive feedback has been received by customers following the introduction of the Boeing 737 MAX 8 aircraft into the fleet.  The airline will take delivery of its first Boeing 737 MAX 9 aircraft.  These aircraft will bring more efficiencies to the fleet as they become available on more routes.

Although the operational climate has remained challenging, flydubai is cautiously optimistic about 2018. Furthermore, its partnership with Emirates, which has already been well received by passengers, will create additional opportunities.  Its strategy to open up previously underserved routes, the creation of new direct airlinks, its efficient and flexible business model will ensure flydubai is best positioned for the year ahead.