Flydubai 2014 net profits up by 12%

Flydubai, a United Arab Emirates-based budget airline, which entered the Rwandan market last year, has announced plans to increase flights from the region to Dubai, a statement from the firm indicates.

This comes on the heels of a surge in its 2014 net profits, which grew by 12.3 per cent, from about $60.5 million (about Rwf40.3 billion) in 2013 to $68 million (about Rwf46 billion) last year.

Its revenues increased by 19.1 per cent from over $1 billion (about Rwf676 billion) to $1.2 billion (about Rwf811.2 billion) over the same period, the statement added.

The company recorded a 14 per cent increase in passenger numbers between 2013 and 2014 in Africa, mainly due to the introduction of new routes in north and East Africa.

The firm plans to increase flights to emerging markets in North and East Africa to 63 flights a week across 12 points.

Sheikh Ahmed Bin Saeed Al Maktoum, the chairman of flydubai, said the airline is committed to serving previously underserved routes. Last year, the airline added 23 new routes to its network, totaling to 86 destinations.

Fuel remains the largest cost, at 36 per cent of its total operating costs.

Source: New Times