Emirates: The Dubai-based budget carrier Flydubai saw record profits of Dh2.1 billion ($572 million) in 2023, boosted by carrying the most passengers ever across its network, the company announced Thursday.

The state-owned carrier, based in the business and tourism hub of Dubai in the UAE, reported revenue of $3 billion, compared to $2.5 billion the year before. It also carried 13.8 million passengers, beating its prior pre-pandemic record of 11 million in a year.

It saw a profit of $327 million in profit in 2022.

“Building on the momentum from our previous strong performance, we continued to grow surpassing all pre-pandemic levels to achieve the most profitable year in the history of the airline,” Ghaith al-Ghaith, Flydubai's CEO, said in a statement.

Flydubai is the sister airline to long-haul carrier Emirates, both based out of Dubai International Airport, the world's busiest for international travel. The airport just announced that it beat its own pre-pandemic figures for 2023, though it remains just shy of its all-time-highest figures of 89.1 million passengers in 2018.

Flydubai had been one of the biggest customers of the 737 Max. The Boeing 737 is a workhorse for the airline, which along with long-haul carrier Emirates is owned by the government’s Investment Corporation of Dubai. The two carriers also operate code-share flights, increasing traffic on Flydubai routes.

Flydubai has a fleet of 84 aircraft and flies to 122 locations in 52 countries.