Budget Carrier FlyDubai Beats Other Airlines With $229M Profit For 2021
FlyDubai on Monday reported a $229 million profit last year as the state-owned budget carrier saw its business rebound from the coronavirus pandemic and as regulators allowed it to again fly the Boeing 737 Max, Jon Gambrell reported for the Associated Press (AP).
Photo Insert: The FlyDubai fleet
FlyDubai nearly doubled its revenue in 2021 to over $1.4 billion, compared to just $773 million the year before in the thick of pandemic restrictions and after two crashes saw the 737 Max grounded. In 2020, the airline saw a loss of $194 million.
The sister airline to long-haul carrier Emirates also carried 5.6 million passengers, up from 3.2 million in 2020.
“FlyDubai’s business model remains strong and has served us well through the pandemic,” said Ghaith al-Ghaith, the airline’s CEO.
”As demand returned these strong fundamentals have translated into a significant improvement in our financial performance.”
The airline’s revenues still aren’t back to its pre-pandemic 2019 results of $1.6 billion, with profits of $54 million. Emirati regulators allowed the 737 Max to fly in February 2021. Chicago-based Boeing Co.’s website said Monday that FlyDubai had unfilled orders of 159 Boeing 737 Max aircraft, with two aircraft delivered in January.