DUBAI, United Arab Emirates — Dubai's long-haul carrier Emirates says it will now expand its network into 29 locations flown to by budget carrier FlyDubai as part of a codeshare deal.

Emirates said in a statement on Monday that the codeshare agreement will see trips begin on Oct. 29. Flyers can book trips beginning Tuesday.

The two airlines operate independently, but are owned by the same entity, the Investment Corporation of Dubai. That's a state-owned sovereign wealth fund of the sheikhdom in the United Arab Emirates.

The new agreement comes as Emirates' profits fell by more than 80 percent to $340 million in the last fiscal year due in part to a slump in demand and U.S. travel restrictions.