Saudi Arabia’s low-cost carrier flynas posted a net loss of SAR 527 million in 2025, compared with a net profit of SAR 433.5 million a year earlier, according to financial data reported by Argaam.
Revenue rose 3.8 percent year-on-year to SAR 7.84 billion in 2025 from SAR 7.56 billion in 2024.
Operating income fell sharply to a loss of SAR 27 million compared with operating profit of SAR 1.05 billion in the previous year.
The airline said the cost of sales increased 4 percent to SAR 6.36 billion, broadly in line with revenue growth.
Selling, marketing, general and administrative expenses remained stable at SAR 510 million during the year.
The low-cost aviation segment accounted for about 90 percent of total revenue, generating SAR 7.08 billion in 2025 following network expansion and increased operating capacity.
Revenue from the Hajj and Umrah segment was broadly stable at SAR 584 million, while general aviation revenue declined 6 percent to SAR 174 million.
The airline said results were heavily affected by non-recurring IPO-related expenses totaling SAR 1.08 billion, including a one-off employee share-based payment of SAR 981.9 million and IPO-related fees of SAR 101 million.
Excluding these costs, adjusted net profit reached SAR 556 million in 2025 compared with SAR 434 million the previous year.
In the fourth quarter of 2025, flynas returned to profitability with net income of SAR 67.4 million, compared with a net loss of SAR 59.1 million in the same period a year earlier.
Quarterly profit, however, declined 43.9 percent compared with the previous quarter.
Total shareholders’ equity rose to SAR 3.54 billion as of Dec. 31, 2025, from SAR 1.64 billion a year earlier.
Adjusted EBITDA increased 15 percent to SAR 2.51 billion in 2025, up from SAR 2.17 billion in 2024.