Flynas (4264) Q4 2025 earnings summary

Executive summary

• Achieved record adjusted net profit of 556 million, up 28% year-over-year, with net margin expanding to 7.1% despite operational and demand headwinds.

• Revenue rose 4% to 7.8 billion, in line with guidance, driven by network expansion and increased passenger traffic.

• Passenger traffic grew 7% to 15.8 million, with ASK up 11% due to international expansion and capacity deployment.

• Fleet expanded to 71 aircraft, including eight A320neos and five wet-leased aircraft to support growth and mitigate supply chain constraints.

• Maintained strong liquidity with cash and equivalents at 4.1 billion and improved net debt-to-adjusted EBITDA to 1.3x.

Financial highlights

• Adjusted EBITDA increased 15% year-over-year to 2.5 billion, with margin improving to 32.1%.

• Adjusted net profit margin rose 1.4 percentage points to 7.1% year-over-year.

• 4Q 2025 revenue up 7% to 1.8 billion, with adjusted EBITDA up 21% to 482 million and margin at 27.1%.

• Cost of revenue rose 4% to 6,361 million, in line with topline growth; gross profit up 1% to 1,483 million.

• Adjusted CASK declined 6% to 23.3 halalas for FY 2025, reflecting efficiency gains and cost discipline.

Outlook and guidance

• Focus remains on sustainable growth, efficient capacity deployment, and deepening presence in key markets.

• Strategy anchored on scaling operations, maintaining cost efficiency, and capturing market opportunities.

• Well positioned to capture opportunities in domestic and international travel with a modern fleet and strong balance sheet.