Record-breaking results for flydubai despite Boeing delivery difficulties
February 24, 2025
Reporting its strongest-ever financial performance in its 15-year history, Dubai-based low cost carrier flydubai has boasted a 16% year-on-year rise in profit as it prepares to further expand its fleet.
With a pre-tax profit of USD$674 million for 2024 marking a 16% growth (alongside a total revenue also up by 15%), flydubai “has emerged as a key player in the aviation industry in Dubai and the region,” explained flydubai Chairman Sheikh Ahmed bin Saeed Al Maktoum. “Forging invaluable air links to underserved markets has supported Dubai’s thriving aviation hub, making Dubai one of the most accessible and connected cities in the world,” he continued. The airline is currently the second largest carrier operating out of Dubai International Airport.
Yearly passenger totals were up 11% (reaching 15.4 million) compared to 2023, with overall available seat kilometres also up 10%; something achieved despite the negative impact of delivery delays. Despite receiving four 737 MAX 8 units in the first half of 2024 (part of the previous years’ backlog and already subject to “extensive delays”), the airline did not receive any of the aircraft that were contractually scheduled to be delivered in 2024, owing to ongoing challenges at Boeing. (Instead, flydubai extended the lease on four 737-800s scheduled to be returned to their lessors).
However, chief executive officer Ghaith al Gaith remains confident that flydubai will receive 12 new 737s in 2025 to “continue growing its fleet, replace some of its existing aircraft and support its network expansion plans” – recognising, however, that flydubai’s strategic plans are “highly influenced by the manufacturer’s ability to deliver on their promise to bring the aircraft delivery schedules back on track and clear the backlog”. 127 737s are scheduled to be delivered over the next decade, with the first of 30 787 Dreamliners to arrive from 2027.
As of the end of December, flydubai had 88 aircraft in its fleet with an average age of 5.3 years; flying to a combined 131 destinations in 55 countries (97 of which it describes as “underserved markets”). Alongside reinstating two services to Al Jouf in Saudi Arabia and Sochi in Russia, a further ten new destinations were added.
Al Gaith added that flydubai’s focus will now look towards “transformation and innovation through further investment in technologies that will support [its] sustainability efforts, improve operational efficiencies and strengthen [its] inhouse capabilities”. These include realising the full potential of its new flight training centre, and growing inhouse capabilities including its cabin crew training organisation. With demand for travel continuing to rise, “our business model over the years has evolved to meet this demand, creating a very unique value-driven offering coupled with growing direct connectivity do Dubai,” he concluded.
