(MENAFN) Flydubai was unveiled on Wednesday to have been hit with USD43.5 million worth of losses by the end of last year, despite its revenues jumping to reach USD1.7 billion.
Chief Financial Officer of the budget carrier Francois Oberholzer explained that "our performance in 2018 was impacted largely due to increasing fuel costs, rising interest rates and unfavorable currency exchange movements."
Oberholzer added: "following the results of the first half of 2018, we continued to focus on further efficiency programs across the business and these have resulted in a better second half."
He further added that the plans are most likely to achieve strength and boost in the Emirati carrier's financial results.
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