Dubai-based carrier flydubai has registered record-breaking annual results for its FY 2023 with the net profit reaching AED2.1 billion ($572 million), up 75% compared to the year before, thus marking the carrier’s strongest-ever performance.

Announcing the results for the 12-month period ended December 31, 2023, flydubai said its annual revenue soared to AED11.2 billion ($3 billion) up 23% compared to the previous year's results of AED9.1 billion ($2.5 billion).

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said: “In its 15th year of operations, flydubai has emerged as one of the key players in the UAE’s aviation industry and a major contributor to Dubai’s economy.

“Its solid business model has enabled the carrier to grow exponentially even during challenging times, doubling its operating fleet and expanding its network since the pandemic.

“The decision to accelerate its aircraft deliveries during the pandemic, preserve its workforce and to move forward with its ambitious network expansion plans has proven to be the correct strategy for the carrier resulting in its strongest-ever performance.

Ghaith Al Ghaith, Chief Executive Officer at flydubai, commenting on flydubai’s Full-Year Results for 2023, said: “Building on the momentum from our previous strong performance, we continued to grow surpassing all pre-pandemic levels to achieve the most profitable year in the history of the airline.

“More than 108 million passengers have chosen flydubai since our first flight took off in 2009, proving the attractiveness of our offering and the city we carry in our name.”

The Dubai budget carrier launched 17 routes and ended 2023 with a network of 122 destinations in 52 countries including Ashgabat, Cairo Sphinx, Corfu (seasonal), Kabul, Milan, Mogadishu, Neom, Olbia (seasonal), Poznań, Shymkent and St. Petersburg. The launch of operations to Krabi and Pattaya in Thailand marked flydubai’s return to Southeast Asia.

It also took delivery of 13 new aircraft and ended 2023 with 84 aircraft: 29 Next-Generation Boeing 737-800, 52 Boeing 737 MAX 8, and 03 Boeing 737 MAX 9 aircraft. Three Next-Generation Boeing 737-800 aircraft were returned to the lessors at the end of their lease term.

On the future outlook,  Al Ghaith said: “We are dedicated to supporting the Dubai Economic Agenda D33 to solidify its position as one of the world’s top three cities for tourism and business over the next decade."

“We will continue with our strategic network development plans that will see more destinations join the flydubai network this year starting with the five new routes announced since the start of 2024 including Basel, Riga, Sochi, Tallinn and Vilnius.

“Additionally, we will take delivery of 12 Boeing 737 MAX aircraft allowing us to add capacity on existing routes as demand for travel across our network returns to pre-pandemic levels.

“Looking ahead, we are renewing our commitment to further enhancing our customer experience and providing the right product at the right time. This year will see more investment in technologies across the business and the retrofitting of our fleet of Next-Generation Boeing 737 aircraft to provide a more cohesive customer experience," he added.-TradeArabia News Service