Thursday, September 21, 2017, 9:14 am

flydubai posts Dhs2.5b revenues in H1

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DUBAI: flydubai has announced its half-year (H1) results for the 2017 financial year and reported total revenue of Dhs2.5 billion ($689 million), an increase of 9.9 percent compared to the same period last year.

Passenger numbers increased to 5.4 million, an increase of 10.5 percent compared to H1, 2016. The number of passengers carried per departure saw an increase of 13.7 percent for the same period. The number of Business Class passengers carried per departure saw an increase of 22 percent compared to the same period last year, according to the figure released by the airliner.

In addition, flydubai contributed 19.4 percent to the total growth at Dubai Airports compared to the H1, 2016. During the first six months of 2017, flydubai contributed 12.4 percent of all traffic in Dubai.

The airline also faced comparatively higher fuel expenses during the reporting period with fuel costs accounting for 24.8 percent of operating costs compared to 23.5 percent in the previous reporting period. In addition, the airline added 8 aircraft to its fleet since July 2016.

The closing cash and cash equivalents position including pre-delivery payments for future aircraft deliveries, remained robust at Dhs 2.1 billion.

Ghaith Al Ghaith, Chief Executive Officer of flydubai, said, “The demand for travel from the growing number of our passengers remains strong. We will however continue to manage our cost performance and balance this with our long-term view of the potential for air travel in the region. We know that we need to remain flexible to the market dynamics across our network. We will continue our disciplined approach to increasing capacity whilst pursuing our broader goal of firmly establishing flydubai at the centre of the global travel industry.”

Arbind Kumar, Senior Vice President, Finance of flydubai, said, “During the first six months of this year, we have seen pressure on both yield and cost. We continue to focus our efforts on three key areas: improvement in our cost performance, a broadening of our distribution and optimisation of our network. Knowing that we have faced a similar seasonality and trend in previous years, we will move ahead cautiously but strong in the knowledge that there remains much untapped opportunity.”

During the H1, 2017, flydubai took delivery of the last of the Next-Generation Boeing 737- 800 aircraft receiving one aircraft in February and a second aircraft in April.

 

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