Flydubai posts AED 316.8m loss in 6M

Dubai – Mubasher: Flydubai has reported an AED 316.8 million ($86.3 million) loss during the first six months of 2018.

Total revenue increased to AED 2.8 billion in H1-18, up 10.4% from the year-ago period, according to a company statement.

“In its first nine years of operation much has been achieved to firmly establish flydubai as an intrinsic part of the aviation industry,” flydubai’s CEO Ghaith Al Ghaith commented.

The carrier’s ancillary revenue – including baggage, cargo, and inflight sales – contributed 11% to flydubai’s revenue from January to the end of June.

“The benefits of our investments, aligned to our long-term financial goals, provide a solid foundation for the next phase of development for the airline,” senior vice president for Finance at flydubai Arbind Kumar said.

Over the first half of the year, fuel costs accounted for 29.2% of the company’s total operating costs, compared to 24.8% in the year-ago period, on the back of a 35% year-on-year increase in Brent Crude Oil prices in H1-18.

Mubasher Contribution Time: 05-Sep-2018 11:04 (GMT)
Mubasher Last Update Time: 09-Sep-2018 05:42 (GMT)