Dubai-based airline flydubai announced a record pre-tax profit of Dh2.5 billion in 2024, marking a 16% increase from the previous year. The achievement, driven by lower fuel costs and network expansion, also saw total revenue grow by 15% to Dh12.8 billion.
Sheikh Ahmed bin Saeed Al Maktoum, chairman of flydubai, highlighted the airline’s role in boosting trade and tourism, while CEO Ghaith Al Ghaith attributed the financial success to strategic planning and adaptability. The airline’s EBITDA rose 15% to Dh4.1 billion, while fuel costs dropped to 28% of operating expenses, down from 32% the previous year. The company’s cash and bank balance, including pre-delivery payments, stood at Dh4.7 billion.
Passenger numbers surged to 15.4 million, an 11% increase from 2023, with the airline adding 10 new destinations. Despite challenges with Boeing’s delivery schedule, flydubai received four Boeing 737 MAX 8 aircraft from previous backlogs, though none of the aircraft slated for 2024 were delivered. To maintain its network growth, the airline extended leases on four Boeing 737-800 aircraft.
Looking ahead, flydubai anticipates receiving 12 new Boeing 737 aircraft in 2025 and has an order book of 127 Boeing 737s and 30 Boeing 787 Dreamliners, with deliveries beginning in 2027. CEO Al Ghaith expects another year of positive growth in 2025, driven by continued fleet expansion and robust demand.
Saj Ahmad, chief analyst at StrategicAero Research, praised the airline’s performance despite supply chain challenges, emphasizing its growing market presence and operational efficiency. With new routes and an extended summer season due to an early Ramadan, 2025 is expected to be a pivotal year for flydubai as it solidifies its position alongside Emirates as a leading UAE airline.
