DUBAI, United Arab Emirates (AP) — FlyDubai said revenues rose to USD1.7 billion in 2018, but the company ended the year with a loss of USD43.5 million.
In a statement yesterday, Dubai’s government-owned budget carrier blamed fuel costs, rising interest rates and “unfavourable currency exchange movements” for the loss. It had made USD1.5 billion in revenue in 2017, earning a narrow profit of USD10 million that year. FlyDubai said it flew 11 million passengers last year, just slightly up from the 10.9 million it flew in 2017.
The low-cost carrier has operations out of both of Dubai’s airports, including Dubai International Airport, which is ranked the world’s busiest for international travel.
FlyDubai also has code-share flights with Dubai’s flagship long-haul carrier Emirates.