Flydubai blames strong dollar for 60% fall in profit
Flydubai reported on Wednesday a 59.7% drop in profit for 2015 that it blamed on challenging business conditions, including the strong dollar. The airline made Dh100.7m (US$27.4m) in the 12 months to December 31, 2015, down from a Dh240m profit in the previous year. Revenue increased 11% to Dh4.9b from Dh4.47b in 2014. Weakening economic conditions in overseas markets, including in Russia where passenger numbers fell 22%, combined with a dollar that surged in 2015 put its yield under pressure, flydubai said. It also said service disruptions, including flight suspensions and reroutes due to conflict in the Middle East, and launching 18 new destinations that are yet to mature, added more stress. “The overall trading environment has remained challenging,” flydubai CE Ghaith Al Ghaith said Wednesday.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-02-11/unaligned/flydubai-blames-strong-dollar-for-60-fall-in-profit
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Flydubai blames strong dollar for 60% fall in profit
Flydubai reported on Wednesday a 59.7% drop in profit for 2015 that it blamed on challenging business conditions, including the strong dollar. The airline made Dh100.7m (US$27.4m) in the 12 months to December 31, 2015, down from a Dh240m profit in the previous year. Revenue increased 11% to Dh4.9b from Dh4.47b in 2014. Weakening economic conditions in overseas markets, including in Russia where passenger numbers fell 22%, combined with a dollar that surged in 2015 put its yield under pressure, flydubai said. It also said service disruptions, including flight suspensions and reroutes due to conflict in the Middle East, and launching 18 new destinations that are yet to mature, added more stress. “The overall trading environment has remained challenging,” flydubai CE Ghaith Al Ghaith said Wednesday.<br/>
