Flydubai's loss widens in first half of 2018 on rising fuel costs

Dubai low-cost carrier flydubai's first half loss widened to Dh316.8 million compared with the same period last year, as rising oil prices increased fuel costs for the airline.

Flydubai reported a price impact of Dh175m in the first half of this year due to a 35 per cent increase in the average Brent crude oil price compared to the same period last year, it said in a statement on Wednesday.

The airline’s loss rose from the Dh142.5m reported for the six months of 2017. Total revenue for the period increased 10.4 per cent to Dh2.8 billion from a year earlier, flydubai said.

“We have continued to see a tough trading environment and the half-year results reflect these short-term challenges,” said Ghaith Al Ghaith, chief executive of flydubai. “We continue, however, to invest in our fleet, network and operations recognising opportunity as we look to the future.”

TheNational Contribution Time: 05-Sep-2018 13:58 (GMT)
TheNational Last Update Time: 05-Sep-2018 13:58 (GMT)