flydubai Reports Record-Breaking Financial Performance for 2024
Dubai-based carrier flydubai has announced its strongest-ever financial performance for the year ending 31st December 2024, marking a significant milestone in its 15-year history.
The airline reported a pre-tax profit of AED2.5 billion (US$674 million), reflecting a 16% growth from the previous year, alongside total revenue of AED12.8 billion (US$3.5 billion), up 15% from 2023.
H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, highlighted the airline's crucial role in expanding Dubai's aviation connectivity, stating, 'flydubai continues to push boundaries and reach new milestones year-on-year. Its business model is built on solid foundations and an unwavering commitment to supporting Dubai's economic and tourism vision.'
The airline carried 15.4 million passengers in 2024, marking an 11% increase from the previous year. Passenger Load Factor rose by 1.2 percentage points, while Passenger Yield also improved. Business Class demand surged, with an 18% rise in premium travelers. EBITDA grew by 15% to AED4.1 billion (US$1.1 billion), reflecting strong operational efficiency and digital innovation. Fuel costs accounted for 28% of operating expenses, down from 32% in 2023, contributing to overall profitability.
Despite aircraft delivery challenges, flydubai expanded its network to 131 destinations across 55 countries, including new routes to Switzerland, Pakistan, Iran, Malaysia, Kenya, and Saudi Arabia. Its fleet stood at 88 aircraft by year-end, with an average age of 5.3 years. The airline also secured an order for 127 Boeing 737 aircraft and 30 Boeing 787 Dreamliners for future expansion.
CEO Ghaith Al Ghaith attributed the success to flydubai's strategic adaptability, operational agility, and dedicated workforce, reinforcing its position as a key player in Dubai's aviation sector.
News Source: Emirates News Agency
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