She described its profits for 2021 as “historic.” And it will enter 2022 with 20 new planes
"Fly Dubai" records 5.3 billion dirhams in revenues... and 841 million in profits
"Fly Dubai" transported 5.6 million passengers in 2021. From the source
Ahmed bin Saeed: "The exceptional results of (Fly Dubai) came thanks to the leadership's directives, including precautionary safety measures, which gave confidence to tourists, to travel to Dubai and the Emirates in general."
Ghaith Al Ghaith: "The (flydubai) business model is still strong, and with the return of demand, the strong fundamentals have translated into a significant improvement in our financial performance."
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flydubai announced yesterday its annual results for the period ending on December 31, 2021, achieving exceptional performance, and profits it described as “historic” amounting to 841 million dirhams, with total annual revenues of 5.3 billion.
The company expressed "cautious optimism" about the current year, revealing that it will receive 20 "Boeing 737 Max 8" aircraft as of this March, increasing the number of flights, launching more new destinations, as well as hiring the best talent in the industry.
historical profits
In detail, "Fly Dubai" announced yesterday its annual results for the reporting period ending on December 31, 2021, achieving historical profits of 841 million dirhams ($ 229 million).
According to the financial results, total annual revenues amounted to 5.3 billion dirhams ($1.434 billion), compared to 2.8 billion dirhams ($773 million) in 2020, with a growth of 86%.
Passenger numbers also increased to 5.6 million, a growth rate of 76% compared to 2020, at a time when seat occupancy reached 69%.
exceptional results
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Supreme Chairman of “flydubai”, said: “The exceptional results achieved by (flydubai) for the year 2021 come after two years full of challenges as a result of the (Covid-19) epidemic, thanks to the decisions and directives adopted by the leadership in the UAE. Including precautionary safety measures throughout the traveler’s journey, which gave tourists confidence to travel to Dubai and the Emirates in general, and led to an increase in the number of travelers by 76% year on year.
His Highness added: "We are still in an excellent position to receive visitors through our network in Dubai and abroad, and (fly Dubai) represents an integral part of the travel and tourism industry in Dubai."
strong model
For his part, CEO of "Fly Dubai", Ghaith Al Ghaith, said: "The (flydubai) business model remains strong, and it has served us well during the pandemic.
With the return of demand, these strong fundamentals translated into a significant improvement in our financial performance,” noting that this achievement was achieved thanks to the firm commitment of employees and the flexibility that the company enjoys in its business.
Al Ghaith added: “The challenge that remained throughout 2021 was the constant changes in travel restrictions, meaning 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, travel restrictions began to ease, which led to an increase in demand for travel across our network, and 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 the demand for travel to Dubai".
main factors
“Fly Dubai” indicated to the main factors that contributed to the recovery since the height of the epidemic, including the launch of the carrier 22 new destinations last year, 13 of which were previously not served by flights from Dubai.
To meet the demand for travel during the summer, the airline launched flights to five seasonal summer destinations: Batumi, Bodrum, Mykonos, Santorini, and Trabzon.
And “Faladi Dubai” pointed out that with the easing of travel restrictions via the network, it witnessed an increase in travel demand, as it operated in December 2021 (6430 flights), and also witnessed an increase in demand for connecting flights by 34% of travelers, both connecting flights via The “Fly Dubai” network, or through the shared code with “Emirates Airlines”.
Flydubai stated that the 10 busiest routes for regular flights across its network were: Alexandria, Bahrain, Bucharest, Doha, Karachi, Kathmandu, Male, Tbilisi, Tel Aviv, and Zanzibar.
Fly Dubai fleet
According to the company, flydubai's fleet has expanded to 59 aircraft, including 34 new-generation Boeing 737-800 aircraft, 22 Boeing 737 MAX 8 aircraft, and three Boeing 737 MAX 9 aircraft.
In turn, the Boeing 737 Max returned to the company's fleet starting in April 2021.
flydubai confirmed that it will continue to operate a fleet of Boeing 737-800 of the new generation and Boeing 737 Max.
It noted that in July 2021 it reached an agreement with Boeing, and modified its orders for the aircraft it ordered in 2013 and 2017.
The carrier also reduced the total number of aircraft it will receive by 65 aircraft.
As of December 31, it had received 25 of its order of 161 aircraft it was expected to receive.
And flydubai revealed that since the launch of the extended “code partnership” with Emirates Airlines in 2017, more than 8.3 million passengers have benefited from smoother connections across the shared network.
2022 forecast
flydubai confirmed that its strategy for the current year is to contribute to strengthening the travel sector after the “Covid-19” pandemic.
It stated that it will receive 20 aircraft this year, at a time when these aircraft will be operated through the carrier's network, giving customers the opportunity to travel to more destinations around the world.
Destinations and Jobs
Commenting on the 2022 outlook, the company’s CEO, Ghaith Al Ghaith, said: “With the lifting of restrictions 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.”
He added: “From March 2022, we will receive 20 aircraft (Boeing 737 Max 8), and as the travel momentum continues to grow, we will increase the number of flights and launch more new destinations across our network,” stressing that to support this growth path, the company will need to hire the best talent. In the industry, to contribute to the ongoing success story of flydubai.
Business degree
flydubai revealed the growth in demand for business class across its network, as the Gulf Cooperation Council countries witnessed an increase of 42% in 2021 compared to 35% in 2019, while Europe witnessed an increase of 51% in 2021, up from 41% in In 2019, Africa saw an increase of 42% in 2021, up from 35% in 2019.
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