Arab Financial: Oil costs impact Flynas finances
Nas Air's results for the second quarter of 2026 show a decline in profits and a shift to losses due to rising fuel costs, which reached approximately $96 per barrel. Operating and administrative expenses increased by 30%. Additionally, higher financing costs and debt burdens added pressure on profit margins, with the ratio of liabilities to assets showing a significant increase. Ultimately, the company recorded a net loss of 240.58 million riyals compared to previous profits, despite a 3.2% rise in revenues. However, the growth in costs, especially for fuel and marketing, led to a deterioration in financial performance. On a positive note, the financial performance improved over the first half of 2026, with losses shrinking by 82.83%, supported by increased revenues and operating income.
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