Financial Results : flynas incurs SAR 594.4M loss in 9M 2025; earns SAR 120.2M in Q3

flynas incurs SAR 594.4M loss in 9M 2025; earns SAR 120.2M in Q3

10/11/2025 Argaam Exclusive

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flynas Co.  incurred a net loss of SAR 594.4 million for the first nine months of 2025, versus a net profit of SAR 492.6 million a year earlier.


Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 5,891.31 6,063.14 2.9 %
Gross Income 1,198.37 1,238.43 3.3 %
Operating Income 955.30 (131.40) (113.8 %)
Net Income 492.63 (594.43) (220.7 %)
Average Shares 153.43 161.09 5.0 %
Earnings Per Share before unusual items (Riyals) 2.36 2.64 12.0 %
EPS (Riyal) 3.21 (3.69) (214.9 %)

The carrier noted non-recurring IPO-related expenses of SAR 1.08 billion during 9M 2025. This includes a one-time charge of SAR 981.9 million related to the employees share-based payment program and IPO fees of SAR 101 million.

 

Revenue rose by 2.9% to SAR 6.1 billion, supported by expanded capacity in the core low-cost carrier (LCC) segment and strong seasonal travel demand.

 

Adjusted for gains from sale and leaseback (SLB) transactions reached SAR 59.1 million in 2025 versus SAR 130.7 million in 2024 and gains on lease termination amounted to SAR 3.8 million in 2025.

 



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 1,968.58 2,090.79 6.2 %
Gross Income 384.73 372.44 (3.2 %)
Operating Income 240.71 259.32 7.7 %
Net Income 104.61 120.22 14.9 %
Average Shares 153.43 161.09 5.0 %
Earnings Per Share before unusual items (Riyal) 0.54 0.54 (0.6 %)
EPS (Riyal) 0.68 0.75 9.4 %

The Saudi carrier recorded an adjusted net profit of SAR 425.6 million for the nine-month period, compared to SAR 361.9 million a year before.

 

Q3 2025 net profit grew 14.9% to SAR 120.2 million, from SAR 104.6 million in Q3 2024.

 

Sequentially, the airline turned to a net profit versus a net loss of SAR 862.5 million in Q2 2025.

 

Total shareholders’ equity, no minority interest, stood at SAR 3.49 billion as of Sept. 30, 2025, up from SAR 1.71 billion in the year-earlier period.

 

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