logo
flyadeal announces solid H1 2025 performance

flyadeal announces solid H1 2025 performance

Arab News19 hours ago
flyadeal, Saudi Arabia's fast-growing low-cost carrier, has announced half-year performance figures that have exceeded growth expectations, with milestones and achievements topped by becoming the world's most punctual airline in June.
Compared with the first half of 2024, the six months to June 2025 saw passenger numbers increase 25 percent to just over 5 million, outstripping the 21 percent seat capacity growth.
With 33,400 flights operated — 200 daily for the first time since flyadeal's inception in 2017 — thanks largely to a near 60 percent increase in the number of routes flown during the six months, the airline surpassed the industry average for best on-time performance of any low-cost Middle East airline for six consecutive months.
Compared with the first half of 2024, the six months to June 2025 saw passenger numbers increase 25 percent to just over 5 million, outstripping the 21 percent seat capacity growth.
In June, flyadeal was acclaimed for being the world's most punctual airline, achieving 91.77 percent operational performance based on flights within 15 minutes of scheduled arrival.
Operational highlights for January-June 2025 over the same period in 2024:
• Number of passengers carried rose 25 percent to 5.05 million
• Seat capacity increased 21 percent
• Total flights operated were up 20 percent to 33,400
• Number of routes flown went up 57 percent to 127 from three bases in the Kingdom
• Fleet grew by five aircraft to 39
• Most punctual airline in the world with on-time performance peaking at 91.77 percent
• Six consecutive months as the best Middle East low-cost airline for punctuality
• Launched scheduled flights to Pakistan signaling first move into South Asia
Key milestones and achievements in H1 2025:
• Joined sister airline Saudia's AlFursan loyalty scheme for members to earn and redeem miles on flyadeal flights
• Historic order for 10 Airbus A330 widebody aircraft for long-haul flying
• Graduation of first 10 of 150 cadet pilots under a new Saudi government scholarship program
• flyadeal announced Saudi cabin crew to be trained as certified tour guides in a ground-breaking regional initiative
• flyadeal joined industry body International Air Transport Association
• Headcount rose 21 percent to 1,600 employees
Steven Greenway, flyadeal CEO, said: 'The 2025 first-half performance demonstrated flyadeal's ongoing commitment to growth in both passengers flown and available seat capacity. But more importantly, our business evolved with a continued focus on core values of operating as a low-cost airline, at high efficiency and with service excellence.'
'With the number of routes flown increase by almost 60 percent compared with the six corresponding months of 2024, we achieved 200 daily flights for the first time in June. As the fleet reached 39 aircraft, our milestone 40th has just been delivered in July giving us more capacity to increase frequency on existing services and add new destinations.'
He added: 'Achieving status as the world's most punctual airline in June was indicative of our commitment to operational excellence while increasing capacity. The introduction of scheduled flights to Karachi in Pakistan — our first move into South Asia — and the addition of Istanbul's second airport of Sabiha Gökçen and Alexandria as our fourth year-round destination in Egypt, is evident of our approach to introduce new markets and strengthen existing ones.
'As we look forward to the coming months of boosting our network including adding Islamabad, Sialkot and Peshawar to boost our Pakistan operations, we are on course for year-end to reach another milestone of 40 million passengers carried since our very first flight.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ACWA Power's business portfolio to double in 5 years: CEO
ACWA Power's business portfolio to double in 5 years: CEO

Argaam

time30 minutes ago

  • Argaam

ACWA Power's business portfolio to double in 5 years: CEO

The size of ACWA Power Co. 's business portfolio doubled during the last three years, CEO Marco Arcelli stated. He expects it to double again over the coming five years, as the company proceeds with achieving its mission on a larger scale and with a larger impact. 'What we have achieved so far in 2025 is a testimony to the size of our operations and the resilience of our business model and long-term partnerships,' Arcelli added, in a statement, commenting on financial results for Q2 2025. 'Our growing portfolio, backed by frameworks like our strategic partnership with the Public Investment Fund, as well as our ambitious expansion into new markets, and other long-term strategic agreements for future energy transition programs, are pillars that embody our commitment to ensuring cleaner and more sustainable future,' he continued. ACWA Power earlier reported a 2% decrease in H1 2025 net profit to SAR 909 million, from SAR 926.8 million in the year-earlier period. The company's net profit fell 23.6% in Q2 2025 to SAR 481.8 million, Argaam 's data showed.

SABIC H1 2025 results reflect exceptional strains on restructuring, external provisions: Analysts
SABIC H1 2025 results reflect exceptional strains on restructuring, external provisions: Analysts

Argaam

time2 hours ago

  • Argaam

SABIC H1 2025 results reflect exceptional strains on restructuring, external provisions: Analysts

Saudi Basic Industries Corp. (SABIC) reported a net loss of SAR 5.28 billion in H1 2025, compared to a SAR 2.43 billion profit a year earlier. The decline was driven by SAR 3.78 billion in impairments and provisions tied to the closure of its Olefins 6 cracker in Teesside, UK. The shutdown is part of SABIC's portfolio optimization plan, aimed at improving operational efficiency and cutting costs amid ongoing challenges in the petrochemical sector. In Q2 alone, SABIC posted a net loss of SAR 4.1 billion. Analysts told Argaam that the results were shaped by non-recurring, non-operational factors, particularly asset impairments and restructuring in Europe, while core performance remained resilient. European Impairments Drive Record Losses Jassim AlJubran, Director - Head of Sell-Side Research at AlJazira Capital, said Q2 losses stemmed mainly from SAR 3.78 billion in asset impairments at SABIC's UK complex, amid continued pressure from high feedstock costs and negative margins in Europe. He noted that affiliate and JV contributions fell by SAR 838 million, mainly due to asset devaluations, including SABIC's stake in Clariant, while restructuring charges added SAR 1.1 billion in Q1 and are expected to persist through Q3. Gross profit margin dropped to 12.43%, its lowest since 2020, indicating ongoing operational pressure. AlJubran warned that these one-off items make quarterly or annual comparisons less meaningful. Core Operations Hold Amid Market Pressures Financial advisor Hussein Al-Attas estimated over 90% of Q2 losses were due to non-operational provisions linked to European asset impairments. He said these reflect a broader capital efficiency strategy and efforts to offload non-viable assets. Despite headwinds, SABIC held revenues steady at SAR 35.7 billion, showing sales resilience. However, weak product prices and high feedstock costs continued to erode profitability. Al-Attas said the downturn is part of a global petrochemicals cycle, pressured by slowing demand in China and Europe, market saturation, and growing competition from low-cost producers. He praised SABIC's decisive restructuring and asset optimization strategy, describing it as a positive move for long-term sustainability. H2 Recovery Anticipated AlJubran expects a gradual recovery in H2 2025 as one-off charges ease and restructuring wraps up by Q3. A seasonal drop in feedstock costs may also support margin recovery. He believes SABIC is well-positioned to benefit from a better operating landscape, supported by its solid balance sheet and strategic focus on cost control and efficiency.

SABIC Announces Second Quarter 2025 Financial Results
SABIC Announces Second Quarter 2025 Financial Results

Asharq Al-Awsat

time2 hours ago

  • Asharq Al-Awsat

SABIC Announces Second Quarter 2025 Financial Results

SABIC announced its financial results for the second quarter of 2025, with an adjusted net income of SAR0.5 billion compared to an adjusted net loss of SAR0.1 billion in the previous quarter, an increase of SAR555 million compared to the previous quarter. The company's revenue in the second quarter was SAR35.6 billion, compared to SAR34.6 billion in the first quarter, an increase of 3%. Total sales volume in the second quarter was 11,779 thousand metric tons, compared to 11,477 thousand metric tons in the first quarter, an increase of 3% due to higher sales volumes, offset by lower average sales prices, together with recognizing licensing and engineering services revenue, SPA reported. SABIC CEO Abdulrahman Al-Fageeh said that as of the second quarter of 2025, SABIC has adopted adjusted financial metrics, which exclude non-operational and one-off incidents, to reflect the true operational performance and organic and sustainable growth, while maintaining full compliance with disclosure requirements of the financial market. Al-Fageeh praised SABIC's EHSS performance, pointing out that the company has achieved HSE rate of 0.07 during the first half of this year, lower than petrochemical peers globally, and its lowest over the past 10 years. The announcement of SABIC's Q2 financial results and performance was at a press conference held at its headquarters in Riyadh, where Al-Fageeh spoke about the latest developments related to the company's operations and activities. "The Board of Directors has approved the distribution of SAR4.5 billion in dividends for the first half of this year, which underscores SABIC's commitment to maximize shareholders' value and ROA, and enhance SABIC's competitive position and investor confidence, while maintaining sufficient resources to achieve financial stability and future strategic growth," he said. Al-Fageeh noted that SABIC will continue to regularly review and optimize its portfolio as part of its transformation program. This includes the closure of its cracker in Teesside, UK, as well as the initiation of several strategic options for its affiliate Gas, including a potential IPO. This comes in line with SABIC's priorities to improve focus on its core business to achieve sustainable growth, strengthen its financial position. "In line with SABIC's growth ambitions, the one million metric ton capacity MTBE project at our Petrokemya affiliate is progressing well, according to planned cost and schedule. The Engineering, Procurement, and Construction (EPC) phase is more than 95% complete and pilot commissioning will occur during Q3 2025,' he added. Al-Fageeh also stressed that SABIC continues to make progress as planned on its Fujian Petrochemical Complex in China project – a flagship project that is driving the company's strategic expansion in Asia.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store