Flydubai blames loss on currency rates fluctuations
Flydubai reported a loss of Dh89.9m (US$24.47m) during the first half of the year because of pressure from currency fluctuations. It reported revenue of Dh2.3b, an increase of 5.4% compared with the same period last year. In March, Flydubai’s Boeing 737-800 crashed in south-west Russia, killing all 62 people on board. "It is too early at this stage to estimate the full cost of the accident," said Ghaith Al Ghaith, the CE of Flydubai. Flydubai had cash and cash equivalents, including the pre-delivery payments for future aircraft deliveries, of Dh2.4b. "We have seen continued pressure on yields due to the uncertain international economic situation set against a backdrop of lower oil prices and adverse currency exchange rates," said CFO Mukesh Sodani. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-09-02/unaligned/flydubai-blames-loss-on-currency-rates-fluctuations
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Flydubai blames loss on currency rates fluctuations
Flydubai reported a loss of Dh89.9m (US$24.47m) during the first half of the year because of pressure from currency fluctuations. It reported revenue of Dh2.3b, an increase of 5.4% compared with the same period last year. In March, Flydubai’s Boeing 737-800 crashed in south-west Russia, killing all 62 people on board. "It is too early at this stage to estimate the full cost of the accident," said Ghaith Al Ghaith, the CE of Flydubai. Flydubai had cash and cash equivalents, including the pre-delivery payments for future aircraft deliveries, of Dh2.4b. "We have seen continued pressure on yields due to the uncertain international economic situation set against a backdrop of lower oil prices and adverse currency exchange rates," said CFO Mukesh Sodani. <br/>
