Today's Edition
DUBAI (ALETIHAD)
flydubai reported on Monday record-breaking annual results for its financial year ending December 31, 2024.
The Dubai-based carrier marks its strongest-ever financial performance in its 15-year history, reporting a pre-tax profit of Dh2.5 billion; a 16% growth compared to the previous financial year with a total revenue of Dh12.8 billion, marking an increase of 15% compared to Dh11.2 billion in 2023.
The new milestone was driven by the strength of flydubai’s diverse network as well as its strong and agile business model.
Commenting on the announcement of the airline’s Financial Results, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said, "flydubai continues to push boundaries and reach new milestones year-on-year. In its young, but impactful, journey, it has emerged as a key player in the aviation industry in Dubai and the region. Its business model is built on solid foundations and an unwavering commitment to supporting Dubai’s economic and tourism vision. Forging invaluable air links to underserved markets has supported Dubai’s thriving aviation hub, making Dubai one of the most accessible and connected cities in the world. We have seen evidence of the positive impact flydubai has in the markets it operates to, stimulating free flows of trade and tourism and acting as a lifeline during challenging times."
"flydubai is well-placed for continued growth and success in the next chapter of its journey as it expands its horizons and operations, continues to invest in innovation and delivers an enhanced customer experience over the coming years. This could not have been possible without the UAE’s visionary leadership and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, who have created the framework for a secure and safe environment, progressive policies and world-class infrastructure that foster success."
flydubai reported a year-on-year increase of 15% in its EBITDA at Dh4.1 billion, reflecting the business’s strong focus on operational and cost efficiency, digitalisation and ongoing investment in enhancing customer experience.
Fuel cost accounted for 28% of operating costs in 2024 compared to 32% in 2023, due to a lower average fuel price. The airline reported a closing cash and bank balance (including pre-delivery payments) of Dh4.7 billion.
The airline carried 15.4 million passengers in 2024, up 11% compared to 2023.
Overall capacity, measured in Available Seat Kilometres (ASKM), increased by 10%, Passenger Load Factor increased by 1.2 percentage points and Passenger Yield improved with an increase of 1%.
This was driven by increased demand for both business and leisure travel around its network.
flydubai’s Business Class offering continued to attract more customers, recording an 18% increase in uptake across its network, carrying almost half a million passengers in 2024.
Chief Executive Officer at flydubai, Ghaith Al Ghaith, commenting on flydubai’s 2024 Full-Year Results, 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.”
