Finances provider Flydubai posts $ 194 million loss because of pandemic

DUBAI, United Arab Emirates (AP) – Dubai’s low value airline flydubai on Sunday reported a lack of $ 194 million in 2020 as income fell by greater than 50% throughout what it described as one of many hardest years within the aviation business.

The provider’s monetary losses mirror how the coronavirus pandemic has hit the aviation business, resulting in airport closures, flights suspended and the lack of billions of {dollars} and tens of 1000’s of aviation jobs.

Flydubai’s internet lack of $ 194 million final 12 months contrasts with its revenue of $ 54 million the 12 months earlier than. Income slipped to $ 773 million final 12 months from $ 1.6 billion the 12 months earlier than.

The variety of flights operated by flydubai final 12 months fell by greater than 60%, inflicting the variety of passengers to drop dramatically, which fell to three.2 million in 2020 from 9.6 million in 2019.

Along with the influence of the pandemic, flydubai stated its operations had been affected by the practically two-year grounding of its Boeing Max 737 fleet. Whereas operated by different carriers, the aircraft was concerned in two crashes that killed 346 folks, forcing Boeing to settle dozens of lawsuits filed by households of killed passengers. The American-made plane was grounded for 22 months pending regulatory approval.

Flydubai operates from each airports in Dubai, together with Dubai Worldwide Airport, which is the world’s busiest for worldwide journey. The low-cost provider additionally provides codeshare flights with Dubai’s flagship airline, however the two firms function independently.

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