The UAE's flydubai is one of the world's top low-cost airlines in 2023. Photo: Chad Slattery
The UAE's flydubai is one of the world's top low-cost airlines in 2023. Photo: Chad Slattery
The UAE's flydubai is one of the world's top low-cost airlines in 2023. Photo: Chad Slattery
The UAE's flydubai is one of the world's top low-cost airlines in 2023. Photo: Chad Slattery

Best low-cost airlines in 2023: flydubai and Wizz Air rank in top 25


Hayley Skirka
  • English
  • Arabic

Many of us lament the end of the golden age of flying, when catching a flight was all about glamour, gourmet meals and ample legroom. These days, unless you can afford to fly in premium cabins with lie-flat beds and in-flight showers, the reality is a little different.

And that's especially true when flying on a low-cost airline where affordable ticket prices take precedence over in-flight frills. Pocket-friendly prices are important when it comes to booking travel, but what you get for your money can vary wildly depending on the airline. This leaves many travellers wondering what are the best budget airlines?

Airline Ratings has the answer via its curation of the world’s best low-cost airlines for 2023.

The list is compiled alphabetically rather than in ranking order, in the same way as the top 20 list of the world’s best airlines, which this year was topped by Air New Zealand, and included both Etihad Airways and Emirates.

Dubai's budget airline flydubai is included in this year's ranking of the top 25 best affordable airlines.

The carrier recently announced its new lie-flat business class suites, making it the first in the world to introduce such seats on a single-aisle Boeing aircraft.

Wizz Air Abu Dhabi is listed in the world's top 25 most affordable airlines in 2023. Photo: Wizz Air
Wizz Air Abu Dhabi is listed in the world's top 25 most affordable airlines in 2023. Photo: Wizz Air

Flydubai was also named the best budget airline in the Middle East. It joins the likes of Southwest, AirAsia, Jetstar and Ryanair as the best low-cost options in their respective regions around the globe.

Wizz Air, the Hungarian airline which has a UAE base via Wizz Air Abu Dhabi, is also included in this year’s ranking. Its inclusion comes despite the airline being named the worst in the UK for flight delays.

Another budget airline in the UAE, Sharjah's Air Arabia, failed to rank in the top 25 in this year’s list after placing in the top 20 last year.

VietJet came out as one of the best budget carriers in the world, with the Vietnamese airline not only ranking in the top 25, but also picking up awards for best airline catering for a low-cost carrier and as the world’s best ultra low-cost airline.

The top 25 low-cost airlines in 2023

  1. AirAsia, Malaysia
  2. Allegiant, United States
  3. Bonza, Australia
  4. Cebu Pacific, Philippines
  5. easyJet, UK
  6. Eurowings, Germany
  7. Flair, Canada
  8. flydubai, UAE
  9. Frontier, United States
  10. GOL, Brazil
  11. IndiGo, India
  12. Jet2, UK
  13. JetBlue, United States
  14. Jetstar, Australia
  15. Norse Atlantic, Norway
  16. Peach, Japan
  17. Ryanair, Ireland
  18. Scoot, Singapore
  19. Spirit, United States
  20. Southwest, United States
  21. Transavia, Netherlands
  22. TUI, Germany
  23. VietJet, Vietnam
  24. Vueling, Spain
  25. Wizz Air, Hungary

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.

Dirham Stretcher tips for having a baby in the UAE

Selma Abdelhamid, the group's moderator, offers her guide to guide the cost of having a young family:

• Buy second hand stuff

 They grow so fast. Don't get a second hand car seat though, unless you 100 per cent know it's not expired and hasn't been in an accident.

• Get a health card and vaccinate your child for free at government health centres

 Ms Ma says she discovered this after spending thousands on vaccinations at private clinics.

• Join mum and baby coffee mornings provided by clinics, babysitting companies or nurseries.

Before joining baby classes ask for a free trial session. This way you will know if it's for you or not. You'll be surprised how great some classes are and how bad others are.

• Once baby is ready for solids, cook at home

Take the food with you in reusable pouches or jars. You'll save a fortune and you'll know exactly what you're feeding your child.

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Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

Updated: May 31, 2023, 5:56 AM