FINANCIAL NEWS

Flydubai records USD40m income loss in H1

19 Oct 2015

(MENAFN) Flydubai has recently posted a USD40 million half-year loss amid the pressure from the strong US dollar on its profitability, based on recent reports.

Additionally, factors that contributed to the loss include the weak demand on Russian routes and the suspension of services to Ukraine, Iraq and Yemen.

However, Income for the first half grew 8.7 percent to USD600 million, plus the firm posted a profit of USD14 million and revenue of USD515 million in 2014’s cited timeframe.

Furthermore, Flydubai added 33.6 percent more capacity in the Jan-June period of this year, which the airline said negatively affected its revenue by 12 percent.

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