DUBAI, United Arab Emirates (AP) – Budget carrier FlyDubai reported record profits on Wednesday, benefiting from a surge in air travel after the lifting of pandemic restrictions.
The state-owned carrier, based in the business and tourism hub of Dubai in the United Arab Emirates, reported $327 million in profit in 2022, up 43% from a year earlier. Annual revenue for 2022 rose 72% to $2.5 billion, he said.
“We recognized early on the huge opportunities that Dubai offers and remained focused and ready to grow our operations once travel demand returned,” Ghaith Al Ghaith, the company’s chief executive, said in a statement.
Traffic more than doubled from last year at Dubai Airport, the world’s busiest for international travel, but still remains at a record set in 2019 before the start of the coronavirus pandemic.
FlyDubai said it carried 10.6 million passengers in 2022, up 89% from a year earlier. The long-haul carrier’s sister airline Emirates has also increased capacity, taking delivery of 17 new aircraft and hiring about 1,300 staff over the past year, he said.
In 2020, FlyDubai reported a loss of $194 million.
