Flydubai Achieves Record-Breaking Financial Performance In 2024 With AED2.5 Billion Profit

flydubai has announced its most successful financial year to date, ending 31st December 2024. The airline achieved a pre-tax profit of AED2.5 billion (US$674 million), marking a 16% increase from the previous year. Revenue also rose by 15% to AED12.8 billion (US$3.5 billion). This growth is attributed to flydubai's extensive network and adaptable business model.

Passenger numbers reached 15.4 million in 2024, an 11% rise from the previous year. Capacity, measured in Available Seat Kilometres (ASKM), grew by 10%, while Passenger Load Factor improved by 1.2 percentage points. Business Class saw an 18% increase in uptake, with nearly half a million passengers choosing this option.

The airline expanded its network to 131 destinations across 55 countries, despite challenges with aircraft deliveries. New routes included Basel, Bhairahawa, Islamabad, Lahore, Kerman, Kish Island, Langkawi, Penang, Mombasa, and The Red Sea. Seasonal summer operations continued to draw passengers to nine destinations.

flydubai's fleet consisted of 88 aircraft by the end of December, with an average age of 5.3 years. Four Boeing 737 MAX 8 planes were delivered in early 2024 from previous backlogs. However, no new aircraft scheduled for delivery in 2024 were received due to ongoing issues with Boeing's delivery schedule.

The airline reported an EBITDA increase of 15%, reaching AED4.1 billion (US$1.1 billion). This reflects flydubai's focus on operational efficiency and digitalisation efforts. Fuel costs accounted for only 28% of operating expenses in 2024 compared to the previous year's 32%, thanks to lower average fuel prices.

Ghaith Al Ghaith, CEO of flydubai, stated that their financial success demonstrates their ability to grow amidst economic challenges through strategic planning and adaptability. He emphasised the importance of collaboration with stakeholders and the dedication of their workforce as key factors in achieving these results.

Strategic Vision and Leadership

H.H. Sheikh Ahmed bin Saeed Al Maktoum highlighted flydubai's role as a significant player in Dubai's aviation sector and its contribution to the city's economic vision. "flydubai continues to push boundaries and reach new milestones year-on-year," he said.

The airline's codeshare agreement with Emirates facilitated seamless connectivity for nearly 2.3 million passengers across their combined network of 235 destinations in over 101 countries via Dubai's hub in 2024.

Future Prospects and Workforce Growth

flydubai plans further expansion with an order book of 127 Boeing aircraft for delivery over the next decade and an additional order for Boeing Dreamliners starting from 2027 valued at US$11 billion. The airline's recruitment efforts have increased its workforce to over 6,089 employees.

The carrier remains poised for future growth by investing in innovation and enhancing customer experiences while benefiting from UAE’s supportive leadership framework that fosters success through progressive policies and infrastructure development.

With inputs from WAM