Flydubai announced a significant leap in its 2023 profits, reporting a 75 percent increase to a record Dh2.1 billion, driven by robust organic growth within the buoyant aviation sector. The Dubai-based airline’s revenue also saw a notable rise, reaching Dh11.2 billion, up 23 percent from Dh9.1 billion in 2022.
The carrier’s expansion was evident in its workforce, which grew to 5,545, with over 1,000 new employees joining in 2023 across various departments. A significant portion of these new hires, approximately 73 percent, were pilots, cabin crew, and engineers, supporting Flydubai’s expanding fleet and network operations. The airline also notably increased the number of UAE Nationals within its team.
Flydubai’s performance is a reflection of the UAE’s aviation sector’s contribution to the economy’s growth post-pandemic, mirroring Emirates airline’s own record profit announcement earlier in November.
In 2023, Flydubai carried 13.8 million passengers, marking a 31 percent increase over the previous year. The airline also reported significant demand increases across its network, particularly in Business Class within the GCC, Central Asia, and the Caucasus regions.
The airline expanded its reach by launching 17 new routes, concluding the year with a network spanning 122 destinations across 52 countries. Flydubai’s fleet grew with the addition of 13 new aircraft, totaling 84 by year-end, and placed a $11 billion order for 30 Boeing 787 Dreamliners at the Dubai Airshow 2023, signaling a strategic move to diversify its fleet.
Despite challenges, such as delays in aircraft deliveries from manufacturers, Flydubai strategically mitigated impacts through an Aircraft, Crew, Maintenance, and Insurance (ACMI) agreement with Smartwings for six wet-leased aircraft to meet the surge in travel demand.
Sheikh Ahmed bin Saeed Al Maktoum, chairman of Flydubai, praised the airline’s resilience and growth strategy, which has seen it double its operating fleet and expand its network since the pandemic. Ghaith Al Ghaith, CEO of Flydubai, highlighted the airline’s achievement of surpassing pre-pandemic levels to record the most profitable year in its history.