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.