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Gulf Today
27-02-2025
- Business
- Gulf Today
DTC, Dubai Airports sign 5-year deal for growing tourist demand
Dubai Taxi Company (DTC) has signed a five-year strategic partnership with Dubai Airports, to be the exclusive provider of taxi services at Dubai International (DXB) and Dubai World Central - Al Maktoum International (DWC), reinforcing its position as the leading provider of premium mobility services in Dubai. The partnership is a testament to the long-standing relationship between DTC and Dubai Airports to service the growing influx of passengers and visitors at Dubai Airports, which welcomed 93 million guests across both airports in 2024, resulting in 6 million limousine and taxi trips in 2024. Taxi and limousine annual trips from the airports are expected to reach over 8 million by 2029, with revenues projected to reach Dhs2.5 billion over the five-year period. DTC's long-standing partnership with Dubai Airports began in 1997 when the Company provided taxi services at the airport with a modest fleet of just 100 taxis. Subsequently, DTC has grown into a leading mobility provider, and the number one taxi operator, by market share, in Dubai. Today, DTC proudly operates a state-of-the-art airport fleet of approximately 900 taxis, including 700 dedicated airport taxis, in addition to specialized pink taxis catering to families, women, and children, as well as accessible vehicles designed to serve People of Determination. The Company's fleet also features around 500 premium limousines, providing premium transportation services. Mansoor Alfalasi, CEO of Dubai Taxi Company and Paul Griffiths, CEO of Dubai Airports signed the agreement in the presence of senior officials. Smart Transportation Services As part of its commitment to innovation and adherence to the highest international standards, the taxi and limousine services at Dubai Airports are equipped with smart dispatch systems and advanced instant booking technologies accessible through user friendly apps. These systems allow passengers to easily and quickly book taxis and provide cashless payment options. The vehicles are monitored by DTC's control centre, ensuring safe, efficient, and timely transportation for all customers. Mansoor Alfalasi, CEO of DTC, said: 'The agreement demonstrates the strength of our relationship with Dubai Airports, which began in 1997. As the exclusive provider of taxi services at Dubai's airports for more than two decades, we are committed to showcasing Dubai at its best to all passengers.' 'With a team of well-trained drivers backed by sophisticated technology, DTC is committed to enhancing its operational capacity to align with the rapid growth and development at Dubai Airports, ensuring the continued delivery of world-class transportation services.', he added In 2024, DTC doubled its dedicated taxi fleet at Dubai Airports. This expansion aimed to support airport transportation services and boost trip numbers by 30%, helping reduce waiting times and improve service speed, while reducing the reliance on having to divert our regular city fleet towards the airport. Paul Griffiths, CEO of Dubai Airports said, 'Our goal at Dubai Airports is to create an effortless and seamless experience for every guest, from the moment they arrive at our airports to the moment they depart. Reliable, efficient, and well-integrated ground transport is a crucial part of that equation. This partnership with Dubai Taxi Company ensures that guests at DXB and DWC experience world-class mobility solutions from the road to the air, reflecting the speed, convenience, and service excellence we uphold across the entire airport journey.' DTC is dedicated to enhancing the travel experience for tourists and visitors by providing seamless, world-class transportation services that adhere to global best practices. This commitment ensures a superior journey while contributing to a memorable stay in Dubai. The exclusivity of these services supports the objectives of the Dubai Economic Agenda D33, further strengthening Dubai's position as a premier global hub for business and tourism. The Company attaches utmost attention to building strong strategic partnerships and providing innovative, sustainable mobility solutions that reflect the community's aspirations and Dubai's future vision. This is part of DTC's new strategy for 2025-2029, which is set to solidify its leadership and reinforce its position as the largest taxi operator in the emirate and a regional leader in the transportation sector. Dubai Taxi Company (DTC) has transitioned into a public shareholding company under Law No. 21 of 2023. As a leading provider of comprehensive mobility solutions in Dubai, DTC operates a fleet of over 9,000 vehicles, including approximately 6,000 taxis and 18,000 drivers. Founded in 1994, DTC initially focused on taxi operations but has since expanded to offer a diverse range of integrated mobility solutions across four primary business lines: taxis, VIP limousines, buses, and delivery services via delivery bikes.
Gulf Today
25-02-2025
- Business
- Gulf Today
Flydubai reports strongest financial results in its 15-year history
Flydubai reported on Monday record-breaking annual results for its financial year ending 31st December 2024. The Dubai-based carrier marks its strongest-ever financial performance in its 15-year history, reporting a pre-tax profit of Dhs2.5 billion ($674 million); a 16% growth compared to the previous financial year with a total revenue of Dhs12.8 billion ($3.5 billion), marking an increase of 15% compared to Dhs11.2 billion ($3 billion) in 2023. The new milestone was driven by the strength of flydubai's diverse network as well as its strong and agile business model. Commenting on the announcement of the airline's Financial Results, Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of flydubai, said, 'flydubai continues to push boundaries and reach new milestones year-on-year. In its young, but impactful, journey, it has emerged as a key player in the aviation industry in Dubai and the region. Its business model is built on solid foundations and an unwavering commitment to supporting Dubai's economic and tourism vision. Forging invaluable air links to underserved markets has supported Dubai's thriving aviation hub, making Dubai one of the most accessible and connected cities in the world. We have seen evidence of the positive impact flydubai has in the markets it operates in, stimulating free flows of trade and tourism and acting as a lifeline during challenging times. "flydubai is well-placed for continued growth and success in the next chapter of its journey as it expands its horizons and operations, continues to invest in innovation and delivers an enhanced customer experience over the coming years. This could not have been possible without the UAE's visionary leadership and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, who have created the framework for a secure and safe environment, progressive policies and world-class infrastructure that foster success.' flydubai reported a year-on-year increase of 15% in its EBITDA at Dhs4.1 billion ($1.1 billion), reflecting the business's strong focus on operational and cost efficiency, digitalisation and ongoing investment in enhancing customer experience. Fuel cost accounted for 28% of operating costs in 2024 compared to 32% in 2023, due to a lower average fuel price. The airline reported a closing cash and bank balance (including pre-delivery payments) of Dhs4.7 billion ($1.3 billion). The airline carried 15.4 million passengers in 2024, up 11% compared to 2023. Overall capacity, measured in Available Seat Kilometres (ASKM), increased by 10%, Passenger Load Factor increased by 1.2 percentage points and Passenger Yield improved with an increase of 1%. This was driven by increased demand for both business and leisure travel around its network. flydubai's Business Class offering continued to attract more customers, recording an 18% increase in uptake across its network, carrying almost half a million passengers in 2024. Ghaith Al Ghaith, Chief Executive Officer at flydubai, commented, 'Our record-breaking financial performance, for the fourth consecutive year, demonstrates our continued ability to grow our business and navigate difficult economic and geopolitical challenges through forward planning, drawing on our strength to adapt and evolve to the changing market and customer needs. Our collaborative approach with our key stakeholders and agility remain key drivers to this success, as well as the collective effort of our people who have been instrumental to it. 'Our network: the carrier had to reevaluate its route development plans and implement frequency revisions across the network due to ongoing challenges with aircraft delivery schedules in 2024. Despite its reduced expansion plans, flydubai grew its network in 2024 to 131 destinations in 55 countries, 97 of which were underserved markets. The carrier reinstated two operations to Al Jouf in Saudi Arabia and Sochi in Russia. Furthermore, it added 10 new destinations including Basel in Switzerland, Bhairahawa in Nepal, Islamabad and Lahore in Pakistan, Kerman and Kish Island in Iran, Langkawi and Penang in Malaysia, Mombasa in Kenya as well as The Red Sea in Saudi Arabia. Seasonal summer operations, between June and the end of September, continued to attract more passengers to the carrier's nine destinations on offer. Our fleet: by the end of December, the number of aircraft in flydubai's fleet was 88, with an average fleet age of 5.3 years. Four Boeing 737 MAX 8 aircraft were delivered in the first half of 2024, which were from the backlog of previous years and faced extensive delays. flydubai did not receive any of the aircraft that were contractually scheduled to be delivered in 2024 due to ongoing challenges with Boeing's delivery schedule. The carrier extended the lease on four Next-Generation Boeing 737-800 aircraft which were scheduled to be returned to the lessors. flydubai's current order book stands at 127 Boeing 737 aircraft to be delivered over the next decade in addition to 30 Boeing 787 Dreamliners, following its first wide-body aircraft order valued at $11 billion, starting from 2027. Almost 2.3 million codeshare passengers enjoyed seamless connectivity across the joint Emirates and flydubai network of 235 destinations in 101 countries via Dubai's leading aviation hub in 2024. The airline's ongoing recruitment drive has resulted in an expanded workforce of 6,089 employees. FlyDubai had revenues of $3.5 billion through the year, as compared to $3 billion in 2023. Profits were $572 million in 2023. The carrier flew 15.4 million passengers in 2024. Flydubai is the sister carrier to the long-haul airline Emirates, both based out of Dubai International Airport, the world's busiest for international travel. The two carriers have seen their profits rebound after the coronavirus pandemic halted worldwide travel. WAM
