Saudi low-cost airline Flynas reported a net profit of 120.2 million Saudi riyals ($32.1 million) for the third quarter, up 15% compared to the same period last year.
The airline said its ongoing capacity expansion programme and “continued strength in passenger demand” had supported the increase in profit.
Revenues totalled 2.1bn riyals ($560 million) during the quarter, up 6.2%. Operating profits were up 7.7% to 259.3 million riyals ($69.1 million).
During the first nine months of 2025, the airline generated 6bn riyals ($1.6bn) in revenue, up 2.9%.
Operating profits in the nine-month period swung to a loss of 131.4 million riyals ($35 million), compared to an operating profit of 955.3 million riyals ($254.7 million) in the same period last year.
The airline reported a net loss for the first nine months of 2025, totalling 594.4 million riyals ($158.5 million), swinging from a net profit of 492.6 million riyals ($158.5 million).
However, excluding a non-recurring IPO-related expense of 1.1bn riyals ($293.3 million), the company recorded an adjusted net profit of 425.6 million riyals ($113.5 million) for the nine-month period, up from an adjusted net profit last year of 361.9 million riyals ($96.5 million). The IPO-related expenses included employee-shared based payments and IPO fees.
Flynas said the adjusted profit increase was primarily driven by “continued fleet growth, network expansion, cost optimisation initiatives, and sustained investments in operational systems and digital tools".
The airline launched its IPO in May 2025.