Flydubai posts H2 profit of $43m

Flydubai has announced a profit of Dh157 million ($43 million) for the second half of 2018, driven by stronger yields and revenue growth that led to minimising annual loss, a media report 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,” Ghaith Al Ghaith, chief executive officer of flydubai, was quoted as saying by Emirates news agency Wam.

EBITDAR was reported at 21.1 per cent of annual revenue. Closing cash and cash equivalents position, including pre-delivery payments for future aircraft deliveries, is Dh2.1 billion compared to Dh2.4 billion last year.