DUBAI-BASED LOW-COST carrier flydubai achieved the best-ever annual results in its 15-year history in 2024, reporting a pre-tax profit of £530m for the year ending December 31 – a 16% rise compared to 2023. The airline carried 15.4 million passengers in 2024, up 11% on 2023. As a result, total revenue rose 15% to £2.7bn. Overall capacity, measured in available seat kilometres (ASKM), increased by 10%, while passenger load factor increased by 1.2%. It said the financial results were driven by increased demand for both business and leisure travel around its network.
Despite the positive results, the all-Boeing operator faced significant headwinds during 2024, stemming from delays to aircraft deliveries. According to the carrier, the four 737 MAX 8s delivered in the first half of the year were from a backlog of previous years and faced extensive delays. “[We] did not receive any of the aircraft that were contractually scheduled to be delivered in 2024 due to ongoing challenges with Boeing’s delivery schedule,” a statement said. As a result, flydubai was forced to extend leases on four 737-800s in order to fill gaps.
The carrier also had to re-evaluate its route development plans and implement frequency revisions across its network. Despite this, flydubai managed to grow its network in 2024 to 131 destinations in 55 countries. Flydubai’s 88-strong fleet comprises 29 737-800s, 56 737 MAX 8s, and three 737 MAX 9s. Its current orderbook stands at 127 737 MAX aircraft to be delivered over the next decade, in addition to 30 787 Dreamliners, following its first widebody order placed at the 2023 Dubai Airshow, deliveries of which are due to begin in 2027.