Flydubai reports record profits of AED2.5bn

Flydubai announced its strongest-ever financial performance in its 15-year history, as Dubai continues to operate as a global hub. The company reported a pre-tax profit of AED2.5 billion (USD 674 million) – a 16% growth compared to the previous financial year, according to a press release issued by the company on Monday.

Flydubai reported a total revenue of AED12.8 billion (USD 3.5 billion), for its financial year ending December 31 2024. It also noted an uptick in its Business Class offerings with an 18% increase across its network, added the press statement.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai commented on the results, stating,

“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,” as per the press statement.

“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.”

The airline also noted a drop in fuel expense as compared to the previous year, while increasing passenger yield.

Fuel cost accounted for 28% of operating costs in 2024 compared to 32% in 2023, added the statement.

The airline carried 15.4 million passengers in 2024, up 11% compared to 2023, driven by business and leisure demand.

Ghaith Al Ghaith, Chief Executive Officer at flydubai, commented saying,

“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.”

Flydubai is also popular among travellers from Pakistan, operating from Karachi, Lahore and Islamabad.

The carrier grew its network in 2024 to 131 destinations in 55 countries, 97 of which were underserved markets, according to the press statement.

In 2024, the carrier signed new interline agreements with Batik Air, Condor and SriLankan Airlines, growing its portfolio to 36 interline agreements.

The carrier was also named ‘Airline with the Best Connectivity in the Middle East’ at the Business Traveller Middle East Awards and received the Aviation Innovation Awards’ “Exceptional Products and Services Innovation” accolade.