flydubai H2 profit hits AED157mn

Dubai / WAM

flydubai has announced H2 profit of as much as AED157 million ($43 million), driven by stronger yields and revenue growth that led to minimising annual loss.
Ghaith Al Ghaith, Chief Executive Officer of flydubai, said, “In line with expectations, 2018 was a challenging year however we have continued to invest in our capacity and increased revenue. We optimised our network by increasing flight frequencies on existing routes and adding new routes and as they become established they will support our further growth.”
EBITDAR was reported at 21.1 percent of annual revenue. The closing cash and cash equivalents position, including pre-delivery payments for future aircraft deliveries, is AED2.1 billion compared to AED2.4 billion that was recorded last year.