22 Hrs
Source:
معلومات مباشر
Flynas reports impact from oil price hikes
The rise in fuel costs, operational expenses, and financial charges put pressure on the results of Saudi Arabian Airlines (Saudia) in the second quarter of 2026, as the company reported a net loss of 240.58 million SAR, compared to adjusted profits in the same period of the previous year. The increase in oil prices to around $96 per barrel and a 30% hike in expenses related to sales, marketing, and management contributed to the deterioration of profit margins. Additionally, higher financing costs and the company’s provision for credit losses led to a decline in profits and a shift to losses, despite a 3.2% year-over-year increase in revenue. In the first half of 2026, losses decreased by 82.83%, while revenues rose by 6.19%, supported by improved operational results.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)