Budget carrier FlyDubai ends 2018 with $43.5M loss
Posted Feb 20, 2019 04:46:49 AM.
This article is more than 5 years old.
DUBAI, United Arab Emirates — FlyDubai says revenues rose to $1.7 billion in 2018, but the company ended the year with a loss of $43.5 million.
In a statement Wednesday, Dubai’s government-owned budget carrier blamed fuel costs, rising interest rates and “unfavourable currency exchange movements” for the loss. It had made $1.5 billion in revenue in 2017, earning a narrow profit of $10 million that year.
FlyDubai said it flew 11 million passengers last year, just slightly up from the 10.9 million it flew in 2017.
The low-cost carrier has operations out of both of Dubai’s airports, including Dubai International Airport, which is ranked the world’s busiest for international travel. FlyDubai also has code-share flights with Dubai’s flagship long-haul carrier Emirates.
The Associated Press
