flydubai Announces Record-Breaking Annual Results

DALLAS – Today, flydubai (FZ) has announced strong results for 2023. The airline recorded its strongest-ever performance last year, with important news concerning its business model, fleet, and facility expansion.

In 2023, flydubai's profit was up 75% compared to 2022, to USD 575 million. FZ's revenue increased by 23% to USD 3 billion, flying close to 108,000 commercial flights. FZ carried 13.8 million passengers in 2023, reaching the 100 million passenger threshold and going the extra mile to carry 108 million passengers since commencing operations in 2009.

The Dubai-based carrier has also exceeded its pre-pandemic record traffic of 11 million passengers annually. Interestingly, 3.7 million passengers have connected with flydubai's partner Emirates (EK), highlighting a solid collaboration between the Dubai-based airlines.

flydubai (FZ) will welcome its first Boeing 787-9 in 2026. Initially, FZ will serve high-density routes with the new Dreamliner. Photo: Lorenzo Giacobbo/Airways

flydubai's Expansion

The year 2023 was one of the most important ever for the Dubai-based carrier, during which the foundation for an even stronger future was laid. At its home Airshow, FZ placed a firm order for 30 Boeing 787-9, new MRO facilities, and a new simulator and training facilities.

The first Dreamliner will be delivered to FZ in 2026. flydubai also announced 17 new routes and now serves 52 countries from its hub at Dubai International (DXB).

At the 2023 Dubai Airshow, flydubai showcased its 50th Boeing 737-8, featuring the latest Recaro cabin. FZ closed the year with 13 new aircraft deliveries and 84 aircraft. The fleet's average age is now 4.5 years old. The airline has communicated often that, due to ongoing issues with manufacturers, the number of deliveries has not met the forecasted target.

flydubai Boeing 787-9 Rendering. Photo: flydubai — flydubai Boeing 787-9 Rendering. Photo: flyduabi

Future Outlook

In 2024, flydubai will gradually introduce the Business Suite, a premium business class seat featuring a lie-flat bed and all-aisle access.

To support the fleet expansion, FZ's workforce expanded with over 1,000 new employees, of which almost three-quarters are pilots, cabin crew members, and engineers. flydubai's workforce now stands at 5,545 employees.

Europe and Southeast Asia remain two essential markets for FZ, with a 56% and 36% year-on-year growth in passenger numbers, respectively. Fuel cost remains the most significant in operating expenses, accounting for 32%.

“Building on the momentum from our previous strong performance, we continued to grow surpassing all pre-pandemic levels to achieve the most profitable year in the history of the airline. The confidence our leadership and key partners have in us has kept us steadfast in our commitment to connect more underserved markets to Dubai and to enable more passengers to travel conveniently more often. More than 108 million passengers have chosen flydubai since our first flight took off in 2009, proving the attractiveness of our offering and the city we carry in our name. I am very proud of the hard work and dedication of everyone at flydubai which has enabled us to break all our records while keeping our customers at the heart of everything we do.”