Riyadh – Mubasher: Flynas Company shifted to net losses valued at SAR 714.64 million in the first half (H1) of 2025, against net profits of SAR 388.01 million in H1-24.

Loss per share amounted to SAR 4.58  at the end of June 2025, compared to an earnings per share (EPS) valued at SAR 2.52 in the year-ago period, according to the financial statements.

The revenues increased by 1.26% year-on-year (YoY) to SAR 3.97 billion in H1-25 from SAR 3.92 billion.

Financial Results of Q2

In the second quarter (Q2) of 2025, Flynas turned to net losses of SAR 862.50 million, versus net profits worth SAR 238.86 million in Q2-24.

Revenues fell by 1.47% to SAR 2.14 billion in April-June 2025 from SAR 2.17 billion a year earlier.

Quarterly, the company also swung to losses in Q2-25 when compared to profits of SAR 147.85 million in Q1-25, while the revenue jumped by 17.29% from SAR 1.82 billion.

Bander Almohanna, CEO and Managing Director of flynas, said: “In H1-25, Hajj operations contributed meaningfully to profitability. Within our scheduled business, we added five new A320neo aircraft, introduced seven wet-leased aircraft, and launched seven new international destinations – further improving the efficiency and scale of our network.”

“The wet-leased aircraft introduced at the end of Q2 are expected to mitigate the short-term impact of grounded aircraft and other regional headwinds,” Almohanna highlighted.

He added, “Finally, the completion of our IPO marks a historic milestone for flynas. It supports our future growth and enables us to create long-term value for our shareholders, fully aligned with Vision 2030.”