flydubai 2013 net profit up 47 per cent at Dh222.8m | GulfNews.com

flydubai 2013 net profit up 47 per cent at Dh222.8m | GulfNews.com:



"flydubai said on Monday it posted a full-year net profit of Dh222.8 million for 2013, up 47 per cent from 2012 on new routes and the launch of its business class services.



The budget carrier reaped revenue worth Dh3.7 billion on the back of launching 17 new routes during 2013 bringing the network to 66 destinations, it said in a statement.



Operating an average of 1,100 flights a week coupled with a continued demand resulted in an increase in passenger numbers to 6.82 million a 38 per cent increase over the previous year.



Fuel remained the wild card with expenses constituting the carrier’s single largest operating cost — 39.5 per cent of total cost. flydubai stated that 29 per cent of its total fuel requirements for 2014 have been hedged, following the hedging programme it adopted in the last quarter of 2013."



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