| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 7,844,307,533 | 7,556,068,990 | 3.81 | ||
| Gross Profit (Loss) | 1,483,145,198 | 1,468,503,484 | 1 | ||
| Operational Profit (Loss) | -27,015,502 | 1,045,111,278 | - | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -526,999,611 | 433,509,594 | - | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -541,251,679 | 416,928,737 | - | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 3,549,765,866 | 1,643,046,259 | 116.05 | ||
| Profit (Loss) per Share | -3.22 | 2.99 | |||
| 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 year compared to the last year | Revenue increased by 4% to SAR 7,844 million (2024: SAR 7,556 million). The Company reports revenue through three distinct operating segments: LCC (Low-Cost Carrier), Hajj & Umrah, and General Aviation. The LCC segment, which accounted for 90% of total revenue in 2025, comprises a point-to-point network focused on affordable, short- and medium-haul travel, designed to stimulate demand. Seasonal Hajj services contribute additional volumes, while charter and general aviation operations help diversify revenue. LCC revenue grew 4% to SAR 7,086 million (2024: SAR 6,784 million), supported by route expansion and a larger operating footprint. Hajj & Umrah revenue was broadly stable at SAR 584 million (2024: 587 million), while General Aviation revenue declined by 6% year-on-year to SAR 174 million (2024: SAR 185 million), contributing 2% of total revenue. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The Company reported a net loss of SAR 527 million for FY 2025, compared to net profit of SAR 434 million in FY 2024. After excluding non-recurring IPO-related expenses in FY 2025 totaling SAR 1.083 billion (comprising a one-time employee share-based payment charge of SAR 981.9 million and IPO-related fees of SAR 101.0 million), the adjusted net profit stood at SAR 556 million in FY 2025, compared to SAR 434 million in FY 2024. In FY 2025, Cost of Revenue increased by 4% to SAR 6,361 million (2024: SAR 6,087 million), broadly in line with the 4% growth in revenue. Selling & Marketing and General & Administrative (SG&A) expenses remained broadly stable at SAR 510 million (2024: SAR 510 million). Sale-and-leaseback gains totaled SAR 76 million during FY 2025, compared with SAR 131 million in FY 2024, reflecting a deliberate strategic shift initiated in 2025 whereby the Company began financing a portion of its aircraft directly as part of its long-term strategy to enhance unit cost efficiency. As a result, adjusted net profit increased by 28% to SAR 556 million (2024: SAR 434 million), with the adjusted net profit margin improving to 7% (2024: 6%), driven primarily by fleet expansion, capacity growth, improved yield management, continued cost discipline, and investments in operational systems and digital capabilities. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | N/A |
| 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 | The Company would like to mention the following: To provide a clearer view of its underlying operational performance, the Company presents adjusted financial metrics that exclude non-recurring and non-operational items not directly related to the regular course of business in a given reporting period. These adjustments offer a more comparable reflection of the Company’s performance. Adjustments for the period are as follows: 1. Non-recurring IPO-related expenses: Following its public listing, the Company incurred non-recurring IPO-related expenses totaling SAR 1.083 billion during the year ended 31 December 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 101.0 million. Key adjusted results: - Adjusted EBITDA: SAR 2,514 million (2024: SAR 2,178 million) – a 15% year-on-year increase - Adjusted Net Profit: SAR 556 million (2024: SAR 434 million) – a 28% year-on-year increase. Please refer to the attached Earnings Release for further details. |
| Attached Documents | Attached Documents |
