Budget carrier FlyDubai takes off with $229m profit for 2021

FlyDubai on Monday reported a $229m profit last year as the state-owned budget carrier saw its business rebound from the coronavirus pandemic and as regulators allowed it to again fly the Boeing 737 Max. FlyDubai nearly doubled its revenue in 2021 to over $1.4b, compared to just $773m the year before in the thick of pandemic restrictions and after two crashes saw the 737 Max grounded. In 2020, the airline saw a loss of $194m. The sister airline to long-haul carrier Emirates also carried 5.6m passengers, up from 3.2m in 2020. “FlyDubai’s business model remains strong and has served us well through the pandemic,” said Ghaith al-Ghaith, the airline’s CEO. ”As demand returned these strong fundamentals have translated into a significant improvement in our financial performance.” The airline’s revenues still aren’t back to its pre-pandemic 2019 results of $1.6b, with profits of $54m. Emirati regulators allowed the 737 Max to return to the sky in February 2021. <br/>