Middle Eastern carrier Flydubai did not receive any of the new aircraft scheduled for delivery to the airline last year but, despite the constraints, it turned in a record pre-tax profit.
Although Flydubai received four Boeing 737 Max 8s in the first half of 2024, it says these were part of a “backlog of previous years” and “faced extensive delays”.
As a result of “ongoing challenges” at Boeing, the carrier states, none of Flydubai’s contractually-scheduled aircraft arrived last year, and it had to supplement capacity through extension of leases on four 737-800s.
Flydubai is set to receive 12 new 737s this year for replacement and expansion.
“Our 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,” says chief executive Ghaith Al Ghaith.
The carrier, which ended 2024 with a fleet of 88 jets, says it had to “re-evaluate” its network-development plans and revise frequencies to a number of destinations.
But despite this rejig, it expanded its network to 131 destinations, reinstating routes to cities in Russia and Saudi Arabia while adding new connections to 10 locations including Islamabad, Lahore, Basel, Mombasa and the new Red Sea airport.
Flydubai generated a pre-tax profit of Dhs2.5 billion ($681 million) for the full year, up 16%, on a 15% rise in revenues to Dhs12.8 billion. Net profit reached Dhs2.2 billion.
The carrier attributes the performance to its “diverse network” and its “strong and agile business model”.
Al Ghaith adds that it illustrates the airline’s ability to “navigate difficult economic and geopolitical challenges” through forward planning, adaptation and evolution.
Flydubai has 127 737s on order, which will be delivered over the next decade, as well as 30 Boeing 787s which are expected to arrive from 2027.
