UAE's flydubai reports full-year profit as Boeing compensation helps - Reuters:
United Arab Emirates carrier flydubai swung to a profit of 198.2 million dirham ($54 million) last year, helped by a compensation agreement with Boeing over the worldwide 737 MAX grounding.
The Dubai state-owned airline is one of the world’s biggest MAX customers, though only operated around 14 of the jets when they were grounded in March 2019.
However, its fleet size shrank by more than a quarter to 45 jets last year as it retired older aircraft and new MAX jets were also grounded.
“We have had to manage a number of unprecedented issues faced by the aviation industry,” Chief Executive Ghaith al-Ghaith said in a statement on Wednesday.
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