flydubai achieves increased revenues of Dh4.4 billion and profits of Dh250 million in 2014

DUBAI, 4th March, 2015 (WAM) -- flydubai, a low-cost airline based in Dubai, yesterday announced its annual results for 2014 and reported a net profit of Dh250 million (USD68 million) an increase of 12.3 percent compared to 2013 with total revenue of Dh4.4 billion (USD1.2 billion) for the 12-month period, ending 31st December. Last year saw flydubai, in support of the economic development of the UAE, remain focused on its long-term strategy to open up new routes by expanding opportunities for travel, maintaining efficient operations across its network and continuing to deliver a better customer experience. H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of flydubai, said, "The UAE has firmly established itself as a centre of gravity for aviation. We have long recognised the importance of aviation to our economic growth. flydubai continues to make a key contribution to our economy in particular as a result of its strategy to open up previously under-served routes." Commenting on the annual results, he added, "Recording its profitability for the third consecutive full year, the 2014 results show that the recent order for more aircraft as well as investments in the offering on the ground and in the air have been the right strategy for the airline. flydubai’s role in the aviation sector is now being recognised beyond the region." Ghaith Al Ghaith, Chief Executive Officer of flydubai, reflecting on last year, said, "2014 saw flydubai open up a record number of new routes in what was a demanding year. To have achieved what we have achieved is significant. The continued investment in our people and operations has strengthened our business and ensures that we are well positioned for sustained growth in the future. It is good to see that more passengers than ever before are travelling with us." According to results, passenger numbers showed growing demand for its services from across its network. flydubai carried 7.25 million passengers in 2014 and has carried 24.3 million since it launched its operations. It saw an increase in passenger numbers between 2013 and 2014 in Africa (14 percent ), Central Asia (57 percent ), Europe (11 percent ) and the Subcontinent (11 percent ). In a year that saw the airline add 23 new routes, creating a network of 86 destinations, flydubai also increased frequency on many of its existing routes. Weekly flight frequencies to Beirut increased from 14 to 21, to Kuwait from 53 to 77, to Muscat from 28 to 41, to Salalah from 3 to 5 and Tbilisi which went to a daily service. The airline now operates 1,400 flights per week. Its network across its geographic focus grew by the number of routes in Africa (100 percent ), in Central Asia (66 percent ), Europe including Russia (40 percent ), the GCC (7 percent ), Middle East (30 percent ) and in the Subcontinent (38 percent ). On flydubai’s operational performance, Ghaith Al Ghaith said, "Changing economic landscape not only makes demands on the business but also provides us with opportunities. Achieving a balance as a result of the speed with which we are able to respond to the changing global economic environment is reflected in our operational performance as we are well set to create a network of more than 100 destinations. It is important for us to continue to recognise this global rebalancing as we grow our fleet, expand our network and evolve our business model." 2015 will continue to be a demanding year due to the global socio-economic landscape. flydubai will see the remaining aircraft from its 2008 order delivered. As in 2014, flydubai launched its first new service of the year to Saudi Arabia. This saw the first international flight land at Nejran on 10th January and became flydubai’s 12th point in Saudi Arabia. In March, a three times a week service to Chennai in India will start. Commenting on the outlook for flydubai, Ghaith Al Ghaith, said, "We will end 2015 with a fleet of 50 aircraft. Together with the new route launches this is an endorsement of the strategy we set out at the beginning and underlines the achievements of the past six years. I’m grateful to the team at flydubai for helping us to ensure that we are well positioned for sustained growth in the years ahead as we start to prepare for the new deliveries in 2016 and the first deliveries of the 737 MAX 8s in 2017 bringing further efficiency to our fleet." – Emirates News Agency, WAM – http://www.wam.ae/en/news/economics/1395277391268.html