Budget Gulf carrier flydubai boasts $61 million in profit last year, $1 billion in revenue

DUBAI, United Arab Emirates – Budget Mideast carrier flydubai says it recorded $60.7 million in profit last year out of total revenue of around $1 billion.

The airline said Monday that earnings were up 47 percent from 2012. Dubai International, where flydubai is based, handled 66.4 million passengers in 2013, making it one of the business airports in the world.

Flydubai says demand for travel within a five-hour flying radius of Dubai in the United Arab Emirates resulted in an increase of nearly 40 percent in passenger numbers to 6.82 million last year.

The airline is among the Gulf's fastest-growing airlines. It has committed to buying up to 111 Boeing 737 aircraft.

Flydubai operates an average of 1,100 flights a week and flies to 66 destinations.