A flydubai Boeing 737-800 jet comes in for landing in Dubai. The airline recorded an annual loss in 2020 amid what it called one of the toughest years in aviation history. Reuters
A flydubai Boeing 737-800 jet comes in for landing in Dubai. The airline recorded an annual loss in 2020 amid what it called one of the toughest years in aviation history. Reuters
A flydubai Boeing 737-800 jet comes in for landing in Dubai. The airline recorded an annual loss in 2020 amid what it called one of the toughest years in aviation history. Reuters
A flydubai Boeing 737-800 jet comes in for landing in Dubai. The airline recorded an annual loss in 2020 amid what it called one of the toughest years in aviation history. Reuters

Flydubai swings to annual loss amid impact of pandemic and Boeing 737 Max grounding


Deena Kamel
  • English
  • Arabic

Low-cost airline flydubai swung to an annual loss in 2020 as the Covid-19 pandemic shut international borders and the 22-month grounding of the Boeing 737 Max jet shrank its fleet.

The airline recorded a loss of Dh712.6 million ($194m) last year, compared with a profit of Dh198.2m in 2019.

Total annual revenue dropped by 52.7 per cent to Dh2.8 billion in 2020 as it carried fewer passengers, flydubai said on Sunday.

Chief executive Ghaith Al Ghaith said the pandemic had affected flydubai more than any other crisis.

"The effects of the travel restrictions that were put in place to safeguard against the transmission of the virus have heavily [affected] the aviation industry."

The pandemic is the worst crisis in the history of the aviation industry and has led to lockdowns worldwide, prompted governments to shut borders and forced airlines to ground their aircraft, affecting the livelihoods of millions of workers in the travel and tourism sectors.

Flydubai carried 3.2 million passengers in 2020, compared with 9.6 million a year earlier, as the pandemic hit air travel demand.

The airline said 1,092 employees went on unpaid or voluntary leave, from its current workforce of 3,796 workers.

Its workforce shrank by 3.2 per cent in 2020, compared with the previous year, it said.

"The challenges we faced in 2020 meant that there were difficult decisions to be made," said Mr Al Ghaith.

"Our employees had to take periods of unpaid leave or work at reduced salary levels. I fully recognise that this created some hardship, but it has meant that we have been able to maintain employment levels."

The airline, which does not have a domestic market, said it was severely affected by the pandemic-induced closure of borders and flight suspensions.

Flydubai "severely curtailed" operations last year for 14 weeks after the UAE suspended most passenger flights in March 2020 to curb the spread of the virus.

Dubai, a regional tourism and finance hub, reopened its borders to foreign visitors on July 7.

To cope during the crisis, flydubai maximised revenue-generating opportunities, took early measures to control costs and preserved liquidity, said chief financial officer Francois Oberholzer.

The airline deferred capital expenditure and raised new financing facilities worth Dh283m. These measures enabled it to end the year with cash assets, including pre-delivery payments, of Dh2.5bn, he said.

The size of flydubai's fleet dropped to 51 Boeing 737 jets that flew to 65 destinations in 2020, down from 59 aircraft serving 93 routes in 2019.

"We managed the combined effects of the pandemic and continued grounding of the Max aircraft on our operations but, undoubtedly, they have had a severe [effect] on our results," said Mr Al Ghaith.

Looking ahead, the state-owned airline said it is "well placed" to identify new opportunities and respond quickly by using its narrow-body aircraft.

"We expect trading conditions to remain challenging and the business fundamentals remain strong," said Mr Al Ghaith.

"This is recognised by our shareholder and we are grateful for their continued confidence and commitment.”

Andor
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LIST OF INVITEES

Shergo Kurdi (am) 
Rayhan Thomas
Saud Al Sharee (am)
Min Woo Lee
Todd Clements
Matthew Jordan
AbdulRahman Al Mansour (am)
Matteo Manassero
Alfie Plant
Othman Al Mulla
Shaun Norris

Infobox

Western Region Asia Cup Qualifier, Al Amerat, Oman

The two finalists advance to the next stage of qualifying, in Malaysia in August

Results

UAE beat Iran by 10 wickets

Kuwait beat Saudi Arabia by eight wickets

Oman beat Bahrain by nine wickets

Qatar beat Maldives by 106 runs

Monday fixtures

UAE v Kuwait, Iran v Saudi Arabia, Oman v Qatar, Maldives v Bahrain

SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%202-litre%204-cylinder%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E268hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E380Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh208%2C000%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3C%2Fp%3E%0A
German plea
Ukrainian President Volodymyr Zelenskyy told the German parliament that. Russia had erected a new wall across Europe. 

"It's not a Berlin Wall -- it is a Wall in central Europe between freedom and bondage and this Wall is growing bigger with every bomb" dropped on Ukraine, Zelenskyy told MPs.

Mr Zelenskyy was applauded by MPs in the Bundestag as he addressed Chancellor Olaf Scholz directly.

"Dear Mr Scholz, tear down this Wall," he said, evoking US President Ronald Reagan's 1987 appeal to Soviet leader Mikhail Gorbachev at Berlin's Brandenburg Gate.

Tell Me Who I Am

Director: Ed Perkins

Stars: Alex and Marcus Lewis

Four stars

The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

UAE currency: the story behind the money in your pockets
Abu Dhabi card

5pm: Handicap (TB) Dh100,000 2,400m

5.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 2,200m

6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000 1,400m

6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000 1,400m

7pm: Handicap (PA) Dh85,000 1,600m

7.30pm: Maiden (PA) Dh80,000 1,600m

The National selections:

5pm: Valcartier

5.30pm: AF Taraha

6pm: Dhafra

6.30pm: Maqam

7pm: AF Mekhbat

7.30pm: Ezz Al Rawasi  

First-round leaderbaord

-5 C Conners (Can)

-3 B Koepka (US), K Bradley (US), V Hovland (Nor), A Wise (US), S Horsfield (Eng), C Davis (Aus);

-2 C Morikawa (US), M Laird (Sco), C Tringale (US)

Selected others: -1 P Casey (Eng), R Fowler (US), T Hatton (Eng)

Level B DeChambeau (US), J Rose (Eng) 

1 L Westwood (Eng), J Spieth (US)

3 R McIlroy (NI)

4 D Johnson (US)

The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
The specs
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  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
WWE TLC results

Asuka won the SmackDown Women's title in a TLC triple threat with Becky Lynch and Charlotte Flair

Dean Ambrose won the Intercontinental title against Seth Rollins

Daniel Bryan retained the WWE World Heavyweight Championship against AJ Styles

Ronda Rousey retained the Raw Women's Championship against Nia Jax

Rey Mysterio beat Randy Orton in a chairs match

Finn Balor defeated Drew McIntyre

Natalya beat Ruby Riott in a tables match

Braun Strowman beat Baron Corbin in a TLC match

Sheamus and Cesaro retained the SmackDown Tag Titles against The Usos and New Day

R-Truth and Carmella won the Mixed Match Challenge by beating Jinder Mahal and Alicia Fox

Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
The specs

Engine: 3.0-litre six-cylinder MHEV

Power: 360bhp

Torque: 500Nm

Transmission: eight-speed automatic

Price: from Dh282,870

On sale: now

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

About Proto21

Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group

Breaking News: The Remaking of Journalism and Why It Matters Now
Alan Rushbridger, Canongate

David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

Leaderboard

63 - Mike Lorenzo-Vera (FRA)

64 - Rory McIlroy (NIR)

66 - Jon Rahm (ESP)

67 - Tom Lewis (ENG), Tommy Fleetwood (ENG)

68 - Rafael Cabrera-Bello (ESP), Marcus Kinhult (SWE)

69 - Justin Rose (ENG), Thomas Detry (BEL), Francesco Molinari (ITA), Danny Willett (ENG), Li Haotong (CHN), Matthias Schwab (AUT)

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%208
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