Budget carrier flydubai sees profits and revenue increase

DUBAI, United Arab Emirates (AP) - 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.