24 Hrs
Source:
الاقتصادية
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Nas Air Faces Losses Amid Fuel Costs
flynas faces quarterly losses of 241 million riyals due to rising fuel costs and regional conflicts, despite revenue increasing to 2.21 billion riyals driven by higher ticket prices and the Hajj season. An 86% surge in fuel prices led to an increased fuel bill of 838 million riyals, worsening costs and causing expenses to surpass revenues at the unit level, with the company incurring a loss of 4.6 halalas per kilometer per available seat for the first time since its listing. Additionally, seat occupancy rates declined to 71%, and the flight network was impacted by regional disputes, although the Hajj sector helped mitigate some of the effects. The company maintains strong liquidity, enabling it to face future uncertainties.
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