Bander Al-Mohanna, CEO and Managing Director of flynas
Saudi Arabia's low-cost carrier
flynas continues to operate its regular schedules in both domestic and international markets despite geopolitical tensions, except for airports in some Gulf countries where operations have been temporarily suspended,
Bander Al-Mohanna, CEO and Managing Director, told
Argaam in an interview.
In an interview with Argaam, Al-Mohanna said travel demand typically declines during Ramadan, while demand rises for flights to Makkah and Madinah.
He added that if the suspension of GCC airports continues, the airline has a contingency plan to redirect capacity to other destinations expected to see strong demand, including tourist destinations within Saudi Arabia or flights to Egypt during the Eid Al-Fitr holiday.
The CEO also said that the company's
Q4 2025 financial results showed an improvement in performance driven by an expansion in seat capacity, which rose by about 17%, while the number of passengers increased by 14% to reach about 4.3 million..
He added that this growth contributed to an increase in revenues to around SAR 1.7 billion, while EBITDA rose by around 21% to reach SAR 482 million, driving improved profitability during the quarter.
The company's load factor exceeded 85% during Q4 2025, which is close to the previous year's level despite the significant expansion in operating capacity, said the top executive, indicating that maintaining high load factors with increased capacity is a positive indicator of strong demand.
Al-Mohanna also explained that the domestic market remains strong and offers significant growth opportunities, highlighting that flynas continues to expand domestic flights alongside international destinations after conducting market studies to ascertain the volume of demand and growth opportunities.
He pointed out that all destinations operated during 2025 and the last quarter achieved their set targets.
Al-Mohanna further stated that the recording of non-recurring expenses of approximately SAR 1.08 billion is due to an accounting treatment related to the sale of treasury shares in accordance with International Financial Reporting Standards (IFRS), whereby the revenue generated from the sale is recorded in retained earnings and not in the income statement, while the cost is recorded in the income statement.
The net impact of this item does not affect the company's cash flows or operating performance. Adjusted net profit after excluding these items amounted to approximately SAR 556 million, with the company posting record profit during 2025, according to the CEO.
Regarding the company's fleet, Al-Mohanna said that flynas received eight aircraft during 2025 without any delays from Airbus, noting that the company also uses a comprehensive aircraft leasing system to support the expansion of operations in the short term.
He noted that the low-cost carrier aims to gradually increase its fleet size to around 80 aircraft in the coming period, as part of an expansion plan that aims to reach around 150 aircraft by 2030, relying on a mix of owned and leased aircraft to meet growth needs.
Al-Mohanna concluded that it is too early to predict flynas performance in Q1 2026 under the current circumstances, "However , we are targeting revenues growth by between 16% and 18% during the year, with an increase in the size of our fleet to around 80 aircraft," he said.
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