841 million dirhams, profits of flydubai, and revenues of 5.3 billion

flydubai: exceptional performance of the airline flying historical profits

 Today, March 7, 2022, flydubai announced its annual results for the reporting period ending on December 31, 2021, achieving historical profits of 841 million dirhams (229 million dollars).

  Total annual revenues amounted to 5.3 billion dirhams (1.434 billion dollars), compared to 2.8 billion dirhams (773 million dollars) in 2020, a growth of 86%.

The number of passengers increased to 5.6 million passengers.

With a growth rate of 76% compared to 2020, while seat occupancy reached 69%.  

Commenting on the announcement of the company's results for this year, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chief Executive Officer of flydubai, said:

The extraordinary results achieved by flydubai for 2021 come after two challenging years as a result of the COVID-19 pandemic.

Thanks to the decisions and directives adopted by the leadership in the UAE, including precautionary safety measures throughout the traveler's journey, all of this gave confidence to tourists to travel to Dubai and the Emirates in general;

This increased passenger numbers by 76% year-on-year.

We continue to be in an excellent position to receive visitors across our network in Dubai and beyond.

flydubai is an integral part of Dubai's travel and tourism industry."

Commenting on the 2021 annual results, flydubai CEO Ghaith Al Ghaith said:

"flydubai's business model remains strong and has served us well during the pandemic. With the return of demand, these strong fundamentals have translated into a significant improvement in our financial performance. This achievement was made possible thanks to the unwavering commitment of our employees and the flexibility we enjoy in our business."

Al Ghaith added, “The challenge that remained throughout 2021 was the constant changes in travel restrictions. This meant that travelers did not have the confidence to book travel early, but continued to travel with a shorter booking period before their travel date. During the second half of the year, restrictions began Travel is easing which has increased demand for travel across our network. We launched flights to seasonal summer destinations to provide more options for travelers, and the increase in our flight schedule in the second half of the year boosted demand for travel to Dubai.”

The main factors that contributed to flydubai's recovery since the height of the epidemic  

• The airline launched 22 new destinations in 2021, 13 of which were previously unserved destinations with flights from Dubai.

• The 10 busiest routes for regular flights across the flydubai network were Alexandria (HBE), Bahrain (BAH), Bucharest (OTP), Doha (DOH), Karachi (KHI), Kathmandu (KTM), Male (MLE), Tbilisi ( TBS), Tel Aviv (TLV) and Zanzibar (ZNZ)

• To meet the demand for summer travel, the airline launched flights to five summer seasonal destinations: Batumi (BUS), Bodrum (BJV), Mykonos (JMK), Santorini (JTR) and Trabzon (TZX).

• With the easing of travel restrictions across the network, flydubai has seen an increase in travel demand.

In January 2020, flydubai operated 5,701 flights.

This exceeds pre-epidemic levels.

In December 2021, the carrier operated 6,430 flights.

• flydubai witnessed an increase in the demand for connecting flights by 34% of passengers, whether connecting flights via the flydubai network or through the codeshare with Emirates Airlines.

• Growth in business class demand in the following markets across the flydubai network:

     GCC countries saw a 42% increase in 2021 compared to 35% in 2019

     Europe saw a 51% increase in 2021 up from 41% in 2019

     Africa saw a 42% increase in 2021 up from 35% in 2019

• The fleet expanded to 59 aircraft, including 34 Boeing 737-800 of the new generation, 22 Boeing 737 Max 8 aircraft and 3 Boeing 737 Max 9 aircraft.

• Boeing 737 Max aircraft returned to the company's fleet starting in April, during which time it underwent the active storage process, which facilitated its return to service.

• flydubai will continue to operate a fleet of Boeing 737-800 Next Generation and Boeing 737 Max aircraft  

• In July, flydubai reached an agreement with Boeing and the company adjusted its orders of aircraft it ordered in 2013 and 2017. The airline reduced the total number of aircraft it will receive by 65 aircraft.

As of Dec. 31, it had received 25 planes out of its order of 161 planes expected to receive.

• flydubai has completed financing requirements for 13 Boeing 737 MAX aircraft and two Leap 1B engines through sale and leaseback to support aircraft delivery during 2021.

• flydubai moved to its new headquarters in April, which constitutes a suitable and more sustainable work environment for its employees.

The new headquarters includes a training center for flight crews.     

• Since launching the extended codeshare partnership with Emirates Airlines in 2017, more than 8.3 million passengers have benefited from smoother connections across the shared network.

 2022 predictions

flydubai's strategy for the current year is to contribute to the strengthening of the travel sector after the COVID-19 pandemic.

During the current year 2022, flydubai will receive 20 aircraft.

These aircraft will be operated across the carrier's network, giving customers the opportunity to fly to more destinations around the world.

Commenting on the 2022 outlook, the CEO said: “With restrictions lifted across our network and increased travel demand, we are cautiously optimistic about the current year despite the geopolitical situation and its potential impact on commodity prices. As of March 2022, we will take delivery of 20 Boeing 737s. Max 8, which will see more of our products and services across our fleet as well as support our future growth. As the travel momentum continues to grow, we will increase the number of flights and launch more new destinations across our network this year. To support this growth path, we will need to hire the best talent in the industry To contribute to flydubai’s ongoing success story.”

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