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FINANCIAL NEWS
FlyDubai aims to expand in the GCC, Eastern Europe and Africa
08 Mar 2016
(MENAFN) FlyDubai predicts this year to be hard, but it plans to increase capacity in the GCC and spread business in Eastern Europe and Africa.
However, it has posted a 60 percent fall in last year’s net income as tough market situations, its fuel hedging policy and the stronger dollar hit the firm’s earnings.
Although 2015 the company declined its profit, but it also increased its passengers’ revenue by 30 percent.
The firm turned around its performance in the second half to turn a full-year profit of USD 27.41mn, supported by lower fuel prices and efforts to manage costs.
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