Flydubai cuts losses in 1H
Low-cost carrier flydubai reduced its deficit for the 2016 first half, registering a net loss of AED89.9m ($24.5m), a 39% improvement on the same period a year ago. The Dubai-based LCC achieved the result on revenue of AED2.3 billion, up 5.4% year-on-year. Passenger numbers were up 16.5% to 4.9m, while business class passengers grew 19% compared to a year previously, although no actual figures were announced. Flydubai operates a small business cabin to boost revenues, similar to other Middle East carriers. Like many carriers this year, flydubai reported a squeeze on margins. “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,” CFO Mukesh Sodani said. “We maintain a sharp focus on cost improvement while pursuing our broader goal of expanding our network and our service offering.”<br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-09-09/unaligned/flydubai-cuts-losses-in-1h
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Flydubai cuts losses in 1H
Low-cost carrier flydubai reduced its deficit for the 2016 first half, registering a net loss of AED89.9m ($24.5m), a 39% improvement on the same period a year ago. The Dubai-based LCC achieved the result on revenue of AED2.3 billion, up 5.4% year-on-year. Passenger numbers were up 16.5% to 4.9m, while business class passengers grew 19% compared to a year previously, although no actual figures were announced. Flydubai operates a small business cabin to boost revenues, similar to other Middle East carriers. Like many carriers this year, flydubai reported a squeeze on margins. “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,” CFO Mukesh Sodani said. “We maintain a sharp focus on cost improvement while pursuing our broader goal of expanding our network and our service offering.”<br/>
