Air Arabia

Air Arabia PJSC

AIRARABIAStocksDubai Financial MarketTransportation

Financials

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
Operating Summary
Revenue	7.79B	6.77B	6.00B	5.24B	3.17B
Cost of Revenue	6.09B	5.20B	4.34B	3.81B	2.29B
Gross Profit	1.70B	1.56B	1.66B	1.43B	0.88B
SG&A	429.87M	378.81M	418.00M	354.52M	239.92M
Operating Expenses	429.87M	378.81M	418.00M	354.52M	239.92M
Operating Income	1.27B	1.18B	1.24B	1.08B	0.64B
Interest Income	240.77M	250.70M	209.99M	88.87M	62.88M
Interest Expense	-66.67M	-82.09M	-102.46M	-115.46M	-137.76M
Other Income/Expense	197.13M	131.68M	113.47M	82.74M	62.15M
Pretax Income	1.83B	1.61B	1.55B	1.22B	0.72B
Income Tax	202.05M	141.51M	—	—	—
Net Income	1.63B	1.47B	1.55B	1.22B	0.72B
EBITDA	1.71B	1.69B	1.77B	1.61B	1.17B
EBIT	1.27B	1.18B	1.24B	1.08B	0.64B
EPS (Basic)	0.35	0.31	0.33	0.26	0.15
EPS (Diluted)	0.35	0.31	0.33	0.26	0.15
DPS	—	0.25	0.20	0.15	0.09
Margins & Efficiency
Gross Margin %	+21.8%	+23.1%	+27.6%	+27.3%	+27.8%
EBITDA Margin %	+21.9%	+24.9%	+29.5%	+30.7%	+37.0%
Net Margin %	+20.9%	+21.7%	+25.8%	+23.3%	+22.7%
Revenue & Income
Revenue	7.79B	6.77B	6.00B	5.24B	3.17B
Revenue Growth (YoY)	+15.1%	+12.8%	+14.5%	+65.1%	+71.5%
Interest & Investment Income	240.77M	250.70M	209.99M	88.87M	62.88M
Earnings From Equity Investments	189.98M	124.75M	88.12M	36.23M	89.70M
Gain (Loss) on Sale of Assets	—	—	—	43.03M	—
Gain (Loss) on Sale of Investments	—	—	—	9.84M	—
Expenses & Provisions
Advertising Expenses	44.33M	46.10M	37.66M	29.66M	17.82M
Cost of Revenue	6.09B	5.20B	4.34B	3.81B	2.29B
Selling, General & Admin	429.87M	378.81M	418.00M	354.52M	239.92M
Operating Expenses	429.87M	378.81M	418.00M	354.52M	239.92M
Interest Expense	-66.67M	-82.09M	-102.46M	-115.46M	-137.76M
Other Non Operating Income (Expenses)	197.13M	131.68M	113.47M	82.74M	62.15M
D&A For EBITDA	439.64M	501.38M	528.55M	534.72M	530.68M
Profitability & Returns
Gross Profit	1.70B	1.56B	1.66B	1.43B	0.88B
Gross Margin	+21.8%	+23.1%	+27.6%	+27.3%	+27.8%
EBIT	1.27B	1.18B	1.24B	1.08B	0.64B
EBIT Margin	+16.3%	+17.5%	+20.6%	+20.5%	+20.3%
EBITDA	1.71B	1.69B	1.77B	1.61B	1.17B
EBITDA Margin	+21.9%	+24.9%	+29.5%	+30.7%	+37.0%
EBT Excluding Unusual Items	1.83B	1.61B	1.55B	1.17B	0.72B
Pretax Income	1.83B	1.61B	1.55B	1.22B	0.72B
Operating Income	1.27B	1.18B	1.24B	1.08B	0.64B
Operating Margin	+16.3%	+17.5%	+20.6%	+20.5%	+20.3%
Profit Margin	+20.9%	+21.7%	+25.8%	+23.3%	+22.7%
Net Income	1.63B	1.47B	1.55B	1.22B	0.72B
Net Income to Common	1.63B	1.47B	1.55B	1.22B	0.72B
Net Income Growth	+11.0%	-5.2%	+26.6%	+69.7%	—
Earnings From Continuing Ops.	1.63B	1.47B	1.55B	1.22B	0.72B
Minority Interest in Earnings	-260.00K	-644.00K	-564.00K	-520.00K	—
Income Tax Expense	202.05M	141.51M	—	—	—
Effective Tax Rate	+11.0%	+8.8%	—	—	—
Per Share & Capital
EPS (Basic)	0.35	0.31	0.33	0.26	0.15
EPS (Diluted)	0.35	0.31	0.33	0.26	0.15
EPS Growth	+11.0%	-5.2%	+26.6%	+69.7%	—
Dividend Per Share	—	0.25	0.20	0.15	0.09
Shares Outstanding (Basic)	4.67B	4.67B	4.67B	4.67B	4.67B
Shares Outstanding (Diluted)	4.67B	4.67B	4.67B	4.67B	4.67B
Dividend Growth	—	+25.0%	+33.3%	+76.5%	—
Free Cash Flow	0.53B	1.70B	1.93B	1.93B	1.90B
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
Payout Ratio	+71.7%	+63.6%	+45.2%	+32.5%	—

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
Operating Summary
Revenue	7.79B	6.77B	6.00B	5.24B	3.17B
Cost of Revenue	6.09B	5.20B	4.34B	3.81B	2.29B
Gross Profit	1.70B	1.56B	1.66B	1.43B	0.88B
SG&A	429.87M	378.81M	418.00M	354.52M	239.92M
Operating Expenses	429.87M	378.81M	418.00M	354.52M	239.92M
Operating Income	1.27B	1.18B	1.24B	1.08B	0.64B
Interest Income	240.77M	250.70M	209.99M	88.87M	62.88M
Interest Expense	-66.67M	-82.09M	-102.46M	-115.46M	-137.76M
Other Income/Expense	197.13M	131.68M	113.47M	82.74M	62.15M
Pretax Income	1.83B	1.61B	1.55B	1.22B	0.72B
Income Tax	202.05M	141.51M	—	—	—
Net Income	1.63B	1.47B	1.55B	1.22B	0.72B
EBITDA	1.71B	1.69B	1.77B	1.61B	1.17B
EBIT	1.27B	1.18B	1.24B	1.08B	0.64B
EPS (Basic)	0.35	0.31	0.33	0.26	0.15
EPS (Diluted)	0.35	0.31	0.33	0.26	0.15
DPS	—	0.25	0.20	0.15	0.09
Margins & Efficiency
Gross Margin %	+21.8%	+23.1%	+27.6%	+27.3%	+27.8%
EBITDA Margin %	+21.9%	+24.9%	+29.5%	+30.7%	+37.0%
Net Margin %	+20.9%	+21.7%	+25.8%	+23.3%	+22.7%
Revenue & Income
Revenue	7.79B	6.77B	6.00B	5.24B	3.17B
Revenue Growth (YoY)	+15.1%	+12.8%	+14.5%	+65.1%	+71.5%
Interest & Investment Income	240.77M	250.70M	209.99M	88.87M	62.88M
Earnings From Equity Investments	189.98M	124.75M	88.12M	36.23M	89.70M
Gain (Loss) on Sale of Assets	—	—	—	43.03M	—
Gain (Loss) on Sale of Investments	—	—	—	9.84M	—
Expenses & Provisions
Advertising Expenses	44.33M	46.10M	37.66M	29.66M	17.82M
Cost of Revenue	6.09B	5.20B	4.34B	3.81B	2.29B
Selling, General & Admin	429.87M	378.81M	418.00M	354.52M	239.92M
Operating Expenses	429.87M	378.81M	418.00M	354.52M	239.92M
Interest Expense	-66.67M	-82.09M	-102.46M	-115.46M	-137.76M
Other Non Operating Income (Expenses)	197.13M	131.68M	113.47M	82.74M	62.15M
D&A For EBITDA	439.64M	501.38M	528.55M	534.72M	530.68M
Profitability & Returns
Gross Profit	1.70B	1.56B	1.66B	1.43B	0.88B
Gross Margin	+21.8%	+23.1%	+27.6%	+27.3%	+27.8%
EBIT	1.27B	1.18B	1.24B	1.08B	0.64B
EBIT Margin	+16.3%	+17.5%	+20.6%	+20.5%	+20.3%
EBITDA	1.71B	1.69B	1.77B	1.61B	1.17B
EBITDA Margin	+21.9%	+24.9%	+29.5%	+30.7%	+37.0%
EBT Excluding Unusual Items	1.83B	1.61B	1.55B	1.17B	0.72B
Pretax Income	1.83B	1.61B	1.55B	1.22B	0.72B
Operating Income	1.27B	1.18B	1.24B	1.08B	0.64B
Operating Margin	+16.3%	+17.5%	+20.6%	+20.5%	+20.3%
Profit Margin	+20.9%	+21.7%	+25.8%	+23.3%	+22.7%
Net Income	1.63B	1.47B	1.55B	1.22B	0.72B
Net Income to Common	1.63B	1.47B	1.55B	1.22B	0.72B
Net Income Growth	+11.0%	-5.2%	+26.6%	+69.7%	—
Earnings From Continuing Ops.	1.63B	1.47B	1.55B	1.22B	0.72B
Minority Interest in Earnings	-260.00K	-644.00K	-564.00K	-520.00K	—
Income Tax Expense	202.05M	141.51M	—	—	—
Effective Tax Rate	+11.0%	+8.8%	—	—	—
Per Share & Capital
EPS (Basic)	0.35	0.31	0.33	0.26	0.15
EPS (Diluted)	0.35	0.31	0.33	0.26	0.15
EPS Growth	+11.0%	-5.2%	+26.6%	+69.7%	—
Dividend Per Share	—	0.25	0.20	0.15	0.09
Shares Outstanding (Basic)	4.67B	4.67B	4.67B	4.67B	4.67B
Shares Outstanding (Diluted)	4.67B	4.67B	4.67B	4.67B	4.67B
Dividend Growth	—	+25.0%	+33.3%	+76.5%	—
Free Cash Flow	0.53B	1.70B	1.93B	1.93B	1.90B
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
Payout Ratio	+71.7%	+63.6%	+45.2%	+32.5%	—