flydubai has reported a profit of AED 841 million (US$ 229 million) for the year ending 31 December 2021. The airline posted total annual revenue of AED 5.3 billion (US$ 1,434 million) compared to AED 2.8 billion (US$ 773 million) in 2020; an increase of 86%.
flydubai carried 5.6 million passengers; an increase of 76% compared to 2020, with an overall seat factor of 69%.
Commenting on the announcement of the airline’s Full-Year Results for 2021, His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said: “The tremendous results flydubai is reporting for 2021 come after a very challenging two years as a result of the COVID-19 pandemic. The decisions taken by the UAE’s leadership, which saw the implementation of the precautionary safety measures throughout the customer journey, gave visitors the confidence to travel to Dubai; resulting in a 76% year-on-year increase in passenger numbers. We remain well placed to continue to welcome passengers across our network to Dubai and beyond. flydubai is intrinsic to Dubai’s travel and tourism industry.”
Ghaith Al Ghaith, Chief Executive Officer at flydubai, commenting on flydubai’s 2021 Annual Results, said: “flydubai’s business model remains strong and has served us well through the pandemic. As demand returned these strong fundamentals have translated into a significant improvement in our financial performance. This achievement has been made possible by the commitment of our hardworking employees combined with our business agility.”
“A challenge that remained throughout 2021 was the constant changes to the travel restrictions. This meant that passengers did not have the confidence to book travel early, however they continued to travel with a shorter booking window ahead of their date of travel. During the second half of the year, travel restrictions began to ease which led to an increase in demand for travel across our network. We launched flights to seasonal summer destinations to offer more options for passengers and the increase in our flight schedule in the second half of the year supported the demand for inbound travel to Dubai.”
flydubai expanded its fleet to 59 aircraft including 34 Next-Generation Boeing 737-800, 22 Boeing 737 MAX 8 and three Boeing 737 MAX 9 aircraft. flydubai will continue to operate a mixed fleet of Next-Generation Boeing 737-800 and Boeing 737 MAX aircraft
In July, flydubai reached an agreement with Boeing and the airline has adjusted its aircraft orders which had been placed in 2013 and 2017. flydubai revised down the total number of aircraft it will receive by 65 aircraft. As at 31 December, 25 aircraft had been received from its orders with 161 aircraft due for delivery.
flydubai completed the financing requirements for 13 Boeing 737 MAX aircraft and two LEAP-1B engines by sale and leaseback to support aircraft deliveries during 2021.
The airline stated that its strategy for the year ahead is to contribute to the rebuilding of the travel sector following the COVID-19 pandemic. From March 2022, flydubai will take delivery of 20 Boeing 737 MAX 8 aircraft, which will see further deployment of its onboard product and support the airline’s future growth. These aircraft will be deployed across the network to provide customers with the opportunity to travel to more places, more often.
Ghaith Al Ghaith, Chief Executive Officer at flydubai, commenting on the outlook for 2022, said:
“With the lifting of restrictions across our network and increasing demand for travel, we are cautiously optimistic about the year ahead notwithstanding the geopolitical situation and its potential effect on the pricing of commodities.”
“During 2022, we will see the largest number of aircraft delivered in any year since the launch of the airline. As the momentum for travel continues to build, we will increase frequencies and introduce new destinations on our network during 2022. To support this growth trajectory, we will need to recruit the best people in the industry willing to contribute to flydubai’s continued success story.”