FlyDubai announces record profit as Gulf air travel booms

DUBAI, United Arab Emirates (AP) — Budget carrier FlyDubai has announced record profits amid a surge in air travel following the lifting of pandemic restrictions. The state-owned carrier, based in the business and tourism hub of Dubai in the United Arab Emirates, reported $327 million in profit in 2022. That’s up 43% from the previous year. Annual revenue was up 72%, to $2.5 billion. Traffic more than doubled last year at Dubai’s airport, the busiest in the world for international travel, but still lags behind a record set in 2019 before the onset of the coronavirus pandemic. FlyDubai announced its earnings Wednesday.