Flydubai posts US$43.5m loss in 2018 on increasing fuel costs
Flydubai reported a full-year loss of AED159.8m (US$43.5m), reversed from a profit of AED37.3m for 2017. In its annual financial statement, the airline did not clarify if the loss figure represented an operational or net result. Despite a better 2018 second half—which saw a profit of $43m—the full-year results through Dec 31, 2018 were impacted by increasing fuel costs, rising interest rates and unfavorable currency exchange movements. Full-year revenue was up 12.4% year-over-year to AED6.2b. Fuel costs were 29.8% of total annual operating costs, compared to 25% for the year-ago period. Total operating costs were AED411m. Passenger numbers were 11m, a moderate YOY increase. Yield improved by 8.4% YOY. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-02-25/unaligned/flydubai-posts-us-43-5m-loss-in-2018-on-increasing-fuel-costs
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Flydubai posts US$43.5m loss in 2018 on increasing fuel costs
Flydubai reported a full-year loss of AED159.8m (US$43.5m), reversed from a profit of AED37.3m for 2017. In its annual financial statement, the airline did not clarify if the loss figure represented an operational or net result. Despite a better 2018 second half—which saw a profit of $43m—the full-year results through Dec 31, 2018 were impacted by increasing fuel costs, rising interest rates and unfavorable currency exchange movements. Full-year revenue was up 12.4% year-over-year to AED6.2b. Fuel costs were 29.8% of total annual operating costs, compared to 25% for the year-ago period. Total operating costs were AED411m. Passenger numbers were 11m, a moderate YOY increase. Yield improved by 8.4% YOY. <br/>
