Budget carrier flydubai posts $194M loss due to pandemic

Dubai’s budget carrier flydubai has reported a loss of $194 million in 2020 as revenue fell by more than 50% last year due to the coronavirus pandemic

DUBAI, United Arab Emirates -- Dubai's budget carrier flydubai reported Sunday a loss of $194 million in 2020 as revenue fell by more than 50% in what it described as one of the toughest years in the aviation industry. The carrier's financial losses reflect how the coronavirus pandemic has pummeled the aviation industry, resulting in the closure of airports, the suspension of flights and the loss of billions of dollars and tens of thousands of aviation jobs. Flydubai’s net loss of $194 million last year stands in contrast to its profit of $54 million the year before. Revenue slid to $773 million last year compared to $1.6 billion the year before. The number of flights operated last year by flydubai fell by more than 60%, resulting in a dramatic decrease in passenger numbers, which plummeted to 3.2 million in 2020 compared to 9.6 million in 2019.