| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,212,794,580 | 2,144,262,652 | 3.196 | 2,005,545,356 | 10.333 |
| Gross Profit (Loss) | 26,143,243 | 451,474,750 | -94.209 | 347,260,738 | -92.471 |
| Operational Profit (Loss) | -109,835,235 | -684,474,002 | -83.953 | 220,035,125 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -240,584,044 | -862,505,163 | -72.106 | 117,901,381 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -237,285,914 | -862,505,163 | -72.488 | 138,527,664 | - |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 4,218,339,936 | 3,972,357,059 | 6.192 |
| Gross Profit (Loss) | 373,403,981 | 865,995,523 | -56.881 |
| Operational Profit (Loss) | 110,199,920 | -390,722,179 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -122,682,663 | -714,646,569 | -82.833 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -98,758,251 | -714,646,569 | -86.18 |
| Total Shareholders Equity (after Deducting Minority Equity) | 3,439,365,154 | 3,376,370,976 | 1.865 |
| Profit (Loss) per Share | -0.72 | -4.58 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue increased by 3% year-on-year to SAR 2.2 billion in 2Q 2026, compared with SAR 2.1 billion in the same quarter of the previous year. The Company reports revenue across three operating segments: flynas LCC (Low-Cost Carrier), flynas Hajj, and flynas General Aviation. LCC revenue increased by 3%, as higher unit revenues more than offset the reduction in scheduled capacity. Hajj revenue increased by 6% year-on-year to SAR 547 million in 2Q 2026, primarily due to the timing of the Hajj season, which fell within the second quarter of 2026, whereas in 2025 it extended partially into the third quarter. General Aviation revenue declined by 11% year-on-year to SAR 40 million in 2Q 2026, reflecting lower utilization and demand across charter and aircraft management services. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The Company recorded a net loss of SAR 241 million in 2Q 2026, compared with an adjusted net profit of SAR 220 million in 2Q 2025. This decline was primarily driven by a 29% increase in cost of revenue, mainly attributable to higher fuel costs. The decrease was further impacted by recurring selling, general and administrative expenses, which increased by 30% year-on-year to SAR 134 million in 2Q 2026. This was mainly due to higher collection charges within selling and marketing expenses, reflecting changes in the channel mix, as well as higher professional fees within general and administrative expenses. In addition, the comparative quarter included a SAR 30 million gain from a sale and leaseback transaction, with no corresponding gain recorded in the current quarter. The Company also recognized provisions for expected credit losses of SAR 2 million in 2Q 2026, compared with a reversal of SAR 20 million in 2Q 2025. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue in 2Q 2026 increased by 10% compared to 1Q 2026 primarily due to full Hajj season falling in 2Q 2026. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The Company recorded a net loss of SAR 241 million in 2Q 2026, compared with net profit of SAR 118 million in 1Q 2026. This decline was primarily driven by a 32% increase in cost of revenue, mainly attributable to higher fuel costs. The decrease was further impacted by recurring selling, general and administrative expenses, which increased by 13% to SAR 134 million in 2Q 2026 as compared to 1Q 2026. This was mainly due to higher professional fees during 2Q 2026 as compared to 1Q 2026. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The company recorded an increase in revenue of 6% to SAR 4.2 billion in 1H 2026 compared with SAR 3.9 billion of the 1H of last year mainly driven by the growth in the LCC segment and full Hajj season falling in 1H 2026. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The Company reported a net loss of SAR 123 million in 1H 2026, compared with an adjusted net profit of SAR 368 million in 1H 2025. The decline was mainly attributable to the regional conflict that began during 1Q 2026 and continued to affect the operating environment in the second quarter, resulting in higher fuel prices and the continued suspension of parts of the international network. In addition, the comparative period in 1H 2025 included a SAR 30 million gain from a sale and leaseback transaction, with no corresponding gain recorded in 1Q 2026. The Company also recognized provisions for expected credit losses of SAR 4 million in 1H 2026, compared with a net reversal of SAR 12 million in 1H 2025. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | NA |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform with the current year’s presentation to these condensed interim financial statements. |
| Additional Information | Following the Company’s listing on Tadawul in Q2 2025, the Company incurred certain non-recurring and non-operational items that were not directly related to its ordinary course of business during Q2 2025 / 1H 2025. Accordingly, and for the purpose of providing a clearer analysis, the Company presented adjusted net profit figures for these related periods. These adjustments provide a more comparable view of the Company’s underlying financial performance. No such adjustments were made during Q2 2026 / 1H 2026. Non-recurring IPO-related expenses: In Q2 2025, following its listing, the Company recorded non-recurring IPO-related expenses totaling SAR 1.083 billion, comprising a one-time Employees Share Based Payment Program charge of SAR 981.9 million and IPO fees of SAR 101.0 million. Both were fully funded by pre-IPO shareholders, with no impact on retained earnings, net equity, or the Company’s underlying performance. Adjusted Net Profit: • Q2 2025: SAR 220 million • H1 2025: SAR 368 million The company is holding an earnings call to discuss 2Q and 1H 2026 financial results with analysts and investors on Wednesday, 5 August 2026, at 3:30 pm Riyadh time |
| Attached Documents | Attached Documents |
