flynas records historic record adjusted net profit | News
Flynas (Tadawul: 4264), a leading low-cost airline (“LCC”) in the Middle East and North Africa (“MENA”) region, today announces its financial and operating results for the fourth quarter and full year ending December 2025.
Flynas delivered resilient operational and financial performance in fiscal 2025, supported by fleet expansion, growing passenger volumes and disciplined execution. The airline transported 15.8 million passengers during the year (+7% year-on-year) and operated a fleet of 71 aircraft on 156 routes and 80 destinations in 38 countries.
In the fourth quarter of 2025, passenger volumes increased 13% year-on-year to 4.3 million, while revenues rose 7% to SAR 1.8 billion, thanks to a 17% increase in capacity. In addition, the airline introduced targeted fare initiatives in the fourth quarter to stimulate demand and maintain average load factors above 85%. Adjusted EBITDA increased 21% to SAR 482 million, with margin improving to 27.1%, partly supported by supplier credits related to the cost impact of aircraft groundings during the year. Adjusted net profit for the quarter amounted to SAR 67 million, compared to an adjusted net loss of SAR 59 million in the same period last year.
For the full year, total revenue increased 4% to SAR 7.8 billion, in line with expectations. Adjusted EBITDA increased by 15% to SAR 2.5 billion, with margin improving to 32.1% thanks to stronger cost control and improved network productivity. Adjusted net profit rose 28% year-on-year to SAR 556 million, with margin reaching 7.1%, up 1.4 percentage points year-on-year, ahead of expectations.
Bander Almohanna, Chief Executive Officer and Managing Director of Flynas, said: “2025 was a year of disciplined execution and strategic progress for Flynas. Despite external headwinds, including aircraft availability constraints and regional disruptions, we remained focused on what mattered most: operational reliability, cost discipline and network expansion.
Our low-cost model remains resilient, allowing us to meet growing demand for affordable travel while maintaining margin discipline. We expanded our fleet to 71 aircraft, launched 25 new routes and entered 9 new countries, increasing our footprint to a total of 38 countries – strengthening our position as the leading airline in the MENA region.
The strength of our model is reflected not only in our financial performance, but also in our ability to quickly adapt to changing circumstances. We introduced wet leases to protect schedules and keep occupancy above 85% during the quarter through targeted rate initiatives.
Since the recent regional conflict began in February 2026, we have been focused on maintaining operational stability, supporting our passengers and adapting our operations as necessary. The safety of our passengers and employees remains a priority, and we continue to monitor the situation closely while managing disruptions in a disciplined manner, maintaining service continuity and operational flexibility.
Looking ahead, we remain focused on sustainable growth. Our strategy is clear: scale capacity efficiently, deepen our presence in key markets and continue to improve the guest experience. With a modern fleet, a strong balance sheet and a dedicated team, Flynas is well positioned to capitalize on the significant opportunities ahead in both domestic and international travel.”
Ramzi Zaroubi, Chief Financial Officer of flynas, added: “Our financial performance in 2025 reflects the strength of our business model and the discipline embedded in our cost structure. We achieved margin expansion across the board, with adjusted EBITDA margin improving to 32.1% and adjusted net profit margin reaching 7.1%, ahead of our expectations.
In addition to the profit and loss account, we have also taken important steps to strengthen the balance sheet. We ended the year with a significantly improved liquidity position of SAR 4.1 billion in cash and equivalents and reduced net debt by 27% year-on-year, reducing our leverage to 1.3x adjusted EBITDA. This gives us more financial flexibility to support our growth plans.
2025 also saw a deliberate shift in our financing strategy. By moving to a more balanced mix of owned and leased aircraft, we have reduced our reliance on sale-and-leaseback transactions. This evolution is expected to improve long-term capital efficiency and support a structurally lower cost base.
Looking ahead, our financial framework remains anchored on margin discipline, cash generation and prudent capital allocation, allowing us to continue investing in growth while maintaining a resilient and efficient balance sheet.”
