Flydubai net profit up 40 percent in H1
14 Nov 2014
(MENAFN) Budget carrier Dubai Aviation Corp, known as flydubai, announced it has registered an increase in its net profit by 40 percent during the January-June period of this year, Gulf News reported.
The airline, which started its operations in June 2009, registered a net profit of USD14 million, while its revenue grew by 17.1 percent, reaching USD515 million, during the first six months of this year.
The carrier, fully owned by the Dubai government, registered an outstanding debt of USD1.05 billion as well as USD11.4 billion in costs for authorizing and contracting capital commitments to expand its fleet, thus increasing the carrier’s costs to reach USD528 million, in comparison with USD449 during the corresponding period of 2013.
The carrier said that as of the end of June, it now has a network covering 71 destinations across 42 countries in Europe, Asia and the Middle East.