Flynas registers 20% lower profits in Q1-26 amid regional flight disruption

Flynas Company generated SAR 117.90 million in net profit attributable to the shareholders during the first quarter (Q1) of 2026.

The quarterly profits were lower by 20.26% year-on-year (YoY) than SAR 147.85 million, according to the interim financial results.

Flynas recorded 9.70% higher revenues at SAR 2 billion as of 31 March 2026, versus SAR 1.82 billion in Q1-25.

The earnings per share (EPS) retreated to SAR 0.69 in Q1-26 from SAR 1.02 in the year-ago period.

The Q1-26 net profits hiked by 74.84% from SAR 67.43 million in Q4-25, while the revenues jumped by 12.59% from SAR 1.78 billion.

From late February, the regional conflict required the suspension of flights to the UAE, Qatar, Bahrain, Kuwait, Iraq and Syria, together representing 15% of the company’s total network.

CEO and Managing Director of flynas, Bander Almohanna, commented: “ We grew our fleet to 72 aircraft, introduced five new routes and two new destinations, operationalized our fifth Saudi domestic base in Abha and advanced our AOC progress for flynas Syria, while delivering 10% revenue growth to SAR 2 billion and 9% growth in passenger traffic to 4 million.”

“Our low-cost model continues to demonstrate its resilience. Domestic operations were unaffected, and the majority of our international network operated on plan, reinforcing the structural strength of a business built around scale, cost discipline, and operational flexibility,” Almohanna mentioned.

He noted: “The investments we have made in fleet, network, and operating capabilities over the past several years are precisely what enabled us to absorb a meaningful regional disruption while continuing to grow.”

Flynas incurred net losses attributable to the shareholders valued at SAR 526.99 million in 2025.