Budget carrier flydubai sees profits and revenue increase

Budget carrier flydubai is upbeat on its earnings outlook. (Reuters)
Updated 21 February 2018
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Budget carrier flydubai sees profits and revenue increase

DUBAI: Budget carrier flydubai says its earnings and profits have increased, with revenue reaching 5.5 billion dirhams ($1.5 billion) in 2017 compared to 5 billion dirhams ($1.37 billion) in 2016.
Profits for the Dubai-based airline reached 37.3 million dirhams ($10 million) last year, up from 31.6 million dirhams ($8.6 million) the year before. However, flydubai’s profits are still less than half the 100.7 million dirham-mark ($27.4 million) recorded in 2015.
The company said Wednesday fuel costs represented a quarter of total operating costs in 2017.
The carrier is aggressively expanding its fleet and passenger numbers, carrying 10.9 million passengers— a record number for the airline— last year.
State-owned flydubai has operations out of both of Dubai’s airports, including Dubai International Airport, which is ranked the world’s busiest for international travel.


EU to hit US imports from Friday in response to Trump tariffs

Updated 20 June 2018
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EU to hit US imports from Friday in response to Trump tariffs

BRUSSELS: The EU will start charging import duties of 25 percent on a range of US products from Friday after Washington imposed tariffs on EU steel and aluminum at the start of June, the European Commission said on Wednesday.
The Commission formally adopted a law putting in place the duties on €2.8 billion ($3.2 billion) worth of US goods, including bourbon and motorbikes.