{"id":101061,"date":"2025-02-25T00:00:00","date_gmt":"2025-02-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/five-holding-flydubai-post-2024-earnings\/"},"modified":"2025-02-25T00:00:00","modified_gmt":"2025-02-25T00:00:00","slug":"five-holding-flydubai-post-2024-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/02\/25\/five-holding-flydubai-post-2024-earnings\/","title":{"rendered":"Five Holding, Flydubai post 2024 earnings"},"content":{"rendered":"<p class=\"tag-border-left\">FIVE HOLDINGS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hospitality <\/strong><strong>group Five <\/strong><strong>Holdings<\/strong><strong>\u2019 <\/strong><strong>revenue jumped 18% y-o-y to A<\/strong><strong>ED 634 mn in 4Q<\/strong><strong> 2024<\/strong>, driven by strong hospitality performance, with hospitality revenue up 41% y-o-y to AED 424 mn during the quarter, according to its <a target=\"_blank\" href=\"https:\/\/www.nasdaqdubai.com\/trading\/disclosures\/7d0a37a7-d91b-48a5-b73c-663a3953e8c9\" style=\"\" rel=\"noopener\">earnings release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a full-year basis: <\/strong>Five posted AED 208.4 mn in net income in 2024, marking a 33.6% y-o-y decrease, according to its <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/2\/2273.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a>. Revenues rose 27.9% y-o-y to AED 2.2 bn, with hospitality revenue surging 71% to AED 1.6 bn, supported by high occupancy rates, strong average daily rates, and increased guest spending on F&amp;B and entertainment. The Pacha Group \u2014 which Five acquired for AED 1.21 bn (EUR 303 mn) in <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/dubai-hospitality-group-five-holdings-completes-$322-mln-pacha-group-deal\" style=\"\" rel=\"noopener\">October<\/a> \u2014 generated EUR 112 mn in revenue (+7%) in its first full operational year post-acquisition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Five\u2019s real estate segment recorded AED 525 mn in revenue<\/strong>, down from AED 732 mn in 2023, reflecting plans to move away from development activities following the completion of its <a target=\"_blank\" href=\"https:\/\/luxejbr.fivehotelsandresorts.com\/\" style=\"\" rel=\"noopener\">Five Luxe hotel in JBR<\/a>.<\/p>\n<p class=\"tag-border-left\">FLYDUBAI- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates\u2019 budget airline F<\/strong><strong>lydubai <\/strong><strong>achieved its strongest-ever financial results in 20<\/strong><strong>24<\/strong>, reporting a 16% y-o-y increase in net income before tax to AED 2.5 bn, while net income after tax reached AED 2.2 bn, the company said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/2\/2278.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. Revenue climbed 15% y-o-y to AED 12.8 bn, driven by strong travel demand and network expansion.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The airline carried 15.4 mn passengers, an 11% increase from 2023<\/strong>, while capacity rose 10% to 44.5 bn. Passenger load factor increased by 1.2%, while passenger yield increased 1%, on the back of strong demand for both business and leisure travel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead<\/strong>, \u201cwe are looking forward to another positive performance this year,\u201d CEO Ghaith Al Ghaith said, though he added that the airline\u2019s expansion plans hinge on aircraft delivery schedules stabilizing. Flydubai is expecting 12 Boeing 737s in 2025 to support fleet expansion, aircraft replacement, and network growth. Its order book includes 127 Boeing 737s set for delivery over the next decade, as well as with 30 Boeing 787 Dreamliners, its first wide-body aircraft order, valued at USD 11 bn, with deliveries beginning in 2027.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Five Holdings saw its revenues jump 18% y-o-y, while Flydubai reported its strongest-ever financial results<\/p>\n","protected":false},"author":1,"featured_media":101062,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[237,7,1151,935],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-101061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam-uae","tag-five-holdings","tag-flydubai","wpautop","entry"],"acf":{"mongo_id":"5985de58-9ebe-45b1-b40b-02ceeb31dc0c","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/2\/2351.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Five Holding, Flydubai post 2024 earnings","related_issue":[101044],"teaser":"Five Holdings saw its revenues jump 18% y-o-y, while Flydubai reported its strongest-ever financial results","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.ee061a5e-380f-4d84-a3a2-259bc3834c27.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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