Flynas logs SAR 4.2bn revenues in H1-26 amid rising fuel costs

Flynas Company incurred a net loss of SAR 240.58 million for the second quarter (Q2) of 2026, narrowing from a loss of SAR 862.51 million in the same period last year.

The results came as quarterly revenue grew by 3.20% to SAR 2.21 billion, supported by higher unit revenues and the timing of the Hajj season, which fell entirely within the second quarter.

For the first half (H1) of 2026, the airline recorded a net loss of SAR 122.68 million, compared to a loss of SAR 714.65 million in the previous year.

Total revenue for the six-month period reached SAR 4.22 billion, representing a 6.19% year-on-year(YoY) increase.

The company attributed the quarterly performance to a significant rise in the cost of revenue, which climbed 29% primarily due to higher fuel prices.

Regional conflict starting in February 2026 also pressured the operating environment, leading to the continued suspension of parts of the international network.

Additionally, selling, marketing, and administrative expenses rose 30% to SAR 134 million.

Operationally, Flynas transported 2.60 million passengers during the quarter, a 27% decrease as the company proactively reduced capacity by 15% to protect margins.

The airline’s fleet stood at 67 aircraft as of 30 June 2026, with a total order book of 280 aircraft, including 235 firm orders.

Bander Almohanna, CEO and Managing Director of flynas, said: “The second quarter presented one of the most challenging operating environments we have faced, as the regional conflict drove fuel prices substantially higher and kept part of our network suspended. We responded with discipline, proactively managing capacity to protect profitability.”

“Even in this volatile environment, we continued to execute our strategy. We started preparations for further A320neo deliveries in the second half of the year, rationalized our temporary wet-lease capacity, and progressed flynas Syria, while working on the launch of our sixth Saudi domestic base at Al Qassim, which opened on schedule on 1 July,” he elaborated.

Almohanna noted: “We managed pricing and capacity to recover a large part of the higher fuel cost, and ended the period with a strong balance sheet and positive free cash flow. Our low-cost model has again shown its resilience.”