Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	2.86B	2.28B	2.30B	2.19B	1.95B
Free Cash Flow	0.53B	1.70B	1.93B	1.93B	1.90B
Capital Expenditures	-2.33B	-0.58B	-0.38B	-0.26B	-0.05B
Investing & Financing
Investing Cash Flow	-1.46B	-1.11B	-0.64B	-1.17B	-0.27B
Financing Cash Flow	-1.03B	-1.73B	-1.45B	-1.11B	-1.25B
Dividends Paid	-1.17B	-0.93B	-0.70B	-0.40B	—
Operating Activities
Operating Cash Flow	2.86B	2.28B	2.30B	2.19B	1.95B
Net Income	1.63B	1.47B	1.55B	1.22B	0.72B
Change in Accounts Payable	578.89M	40.76M	255.61M	404.38M	-125.28M
Change in Accounts Receivable	-132.74M	12.58M	-27.66M	-94.87M	515.02M
Change in Inventory	-43.59M	-4.74M	-15.97M	-9.24M	2.06M
Change in Other Net Operating Assets	161.99M	-80.70M	—	—	—
Change in Unearned Revenue	264.68M	311.95M	9.73M	21.54M	190.73M
Change in Working Capital	829.24M	279.84M	221.70M	321.81M	582.53M
Other Operating Activities	-29.60M	6.38M	-71.75M	51.97M	88.13M
Provision & Write-off of Bad Debts	0.47M	1.64M	47.82M	47.34M	27.26M
Depreciation & Amortization	616.82M	643.53M	641.65M	627.62M	614.04M
Other Amortization	4.98M	5.06M	5.68M	6.34M	6.45M
Cash Interest Paid	66.67M	82.09M	10.47M	78.13M	106.76M
Cash Income Tax Paid	130.50M	—	—	—	—
Loss (Gain) on Equity Investments	-189.98M	-124.75M	-88.12M	-36.23M	-89.70M
Investing Activities
Investing Cash Flow	-1.46B	-1.11B	-0.64B	-1.17B	-0.27B
Capital Expenditures	-2.33B	-0.58B	-0.38B	-0.26B	-0.05B
Investment in Securities	0.44B	-0.83B	-0.50B	-1.03B	-0.25B
Other Investing Activities	317.59M	355.69M	216.67M	118.32M	41.64M
Sale (Purchase) of Intangibles	-18.28M	-9.35M	-11.35M	-9.43M	-10.37M
Sale (Purchase) of Real Estate	-32.36M	-79.33M	-16.40M	—	—
Loss (Gain) From Sale of Assets	—	—	—	-43.03M	—
Loss (Gain) on Sale of Investments	—	—	—	-9.84M	—
Financing Activities
Financing Cash Flow	-1.03B	-1.73B	-1.45B	-1.11B	-1.25B
Common Dividends Paid	-1.17B	-0.93B	-0.70B	-0.40B	—
Long-Term Debt Issued	849.57M	—	—	—	—
Short-Term Debt Issued	—	—	—	101.85M	—
Total Debt Issued	849.57M	—	—	101.85M	—
Long-Term Debt Repaid	-641.74M	-716.42M	-723.05M	-740.04M	-627.33M
Short-Term Debt Repaid	—	—	-13.79M	—	-514.31M
Total Debt Repaid	-0.64B	-0.72B	-0.74B	-0.74B	-1.14B
Net Debt Issued (Repaid)	0.21B	-0.72B	-0.74B	-0.64B	-1.14B
Other Financing Activities	-66.67M	-82.09M	-10.47M	-78.13M	-106.76M
Free Cash Flow & Returns
Free Cash Flow	0.53B	1.70B	1.93B	1.93B	1.90B
Free Cash Flow Growth	-68.6%	-11.8%	-0.3%	+1.9%	+150.7%
Free Cash Flow Margin	+6.8%	+25.1%	+32.1%	+36.9%	+59.7%
Free Cash Flow Per Share	0.11	0.36	0.41	0.41	0.41
Levered Free Cash Flow	0.29B	0.99B	1.38B	1.35B	1.16B
Unlevered Free Cash Flow	0.33B	1.05B	1.45B	1.42B	1.25B
Operating Cash Flow Growth	+25.5%	-1.1%	+5.3%	+12.3%	+148.1%
Net Cash Flow	372.46M	-562.08M	212.12M	-98.58M	432.87M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operations
Operating Cash Flow	2.86B	2.28B	2.30B	2.19B	1.95B
Free Cash Flow	0.53B	1.70B	1.93B	1.93B	1.90B
Capital Expenditures	-2.33B	-0.58B	-0.38B	-0.26B	-0.05B
Investing & Financing
Investing Cash Flow	-1.46B	-1.11B	-0.64B	-1.17B	-0.27B
Financing Cash Flow	-1.03B	-1.73B	-1.45B	-1.11B	-1.25B
Dividends Paid	-1.17B	-0.93B	-0.70B	-0.40B	—
Operating Activities
Operating Cash Flow	2.86B	2.28B	2.30B	2.19B	1.95B
Net Income	1.63B	1.47B	1.55B	1.22B	0.72B
Change in Accounts Payable	578.89M	40.76M	255.61M	404.38M	-125.28M
Change in Accounts Receivable	-132.74M	12.58M	-27.66M	-94.87M	515.02M
Change in Inventory	-43.59M	-4.74M	-15.97M	-9.24M	2.06M
Change in Other Net Operating Assets	161.99M	-80.70M	—	—	—
Change in Unearned Revenue	264.68M	311.95M	9.73M	21.54M	190.73M
Change in Working Capital	829.24M	279.84M	221.70M	321.81M	582.53M
Other Operating Activities	-29.60M	6.38M	-71.75M	51.97M	88.13M
Provision & Write-off of Bad Debts	0.47M	1.64M	47.82M	47.34M	27.26M
Depreciation & Amortization	616.82M	643.53M	641.65M	627.62M	614.04M
Other Amortization	4.98M	5.06M	5.68M	6.34M	6.45M
Cash Interest Paid	66.67M	82.09M	10.47M	78.13M	106.76M
Cash Income Tax Paid	130.50M	—	—	—	—
Loss (Gain) on Equity Investments	-189.98M	-124.75M	-88.12M	-36.23M	-89.70M
Investing Activities
Investing Cash Flow	-1.46B	-1.11B	-0.64B	-1.17B	-0.27B
Capital Expenditures	-2.33B	-0.58B	-0.38B	-0.26B	-0.05B
Investment in Securities	0.44B	-0.83B	-0.50B	-1.03B	-0.25B
Other Investing Activities	317.59M	355.69M	216.67M	118.32M	41.64M
Sale (Purchase) of Intangibles	-18.28M	-9.35M	-11.35M	-9.43M	-10.37M
Sale (Purchase) of Real Estate	-32.36M	-79.33M	-16.40M	—	—
Loss (Gain) From Sale of Assets	—	—	—	-43.03M	—
Loss (Gain) on Sale of Investments	—	—	—	-9.84M	—
Financing Activities
Financing Cash Flow	-1.03B	-1.73B	-1.45B	-1.11B	-1.25B
Common Dividends Paid	-1.17B	-0.93B	-0.70B	-0.40B	—
Long-Term Debt Issued	849.57M	—	—	—	—
Short-Term Debt Issued	—	—	—	101.85M	—
Total Debt Issued	849.57M	—	—	101.85M	—
Long-Term Debt Repaid	-641.74M	-716.42M	-723.05M	-740.04M	-627.33M
Short-Term Debt Repaid	—	—	-13.79M	—	-514.31M
Total Debt Repaid	-0.64B	-0.72B	-0.74B	-0.74B	-1.14B
Net Debt Issued (Repaid)	0.21B	-0.72B	-0.74B	-0.64B	-1.14B
Other Financing Activities	-66.67M	-82.09M	-10.47M	-78.13M	-106.76M
Free Cash Flow & Returns
Free Cash Flow	0.53B	1.70B	1.93B	1.93B	1.90B
Free Cash Flow Growth	-68.6%	-11.8%	-0.3%	+1.9%	+150.7%
Free Cash Flow Margin	+6.8%	+25.1%	+32.1%	+36.9%	+59.7%
Free Cash Flow Per Share	0.11	0.36	0.41	0.41	0.41
Levered Free Cash Flow	0.29B	0.99B	1.38B	1.35B	1.16B
Unlevered Free Cash Flow	0.33B	1.05B	1.45B	1.42B	1.25B
Operating Cash Flow Growth	+25.5%	-1.1%	+5.3%	+12.3%	+148.1%
Net Cash Flow	372.46M	-562.08M	212.12M	-98.58M	432.87M

Financials

Annual (AED)

Air Arabia

Annual (AED)