Air Arabia PJSC (DFM:AIRARABIA)

Air Arabia PJSC Income Statement

Financials in millions AED. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	7,809	7,788	6,766	6,000	5,242	3,174
Revenue Growth (YoY)	11.49%	15.10%	12.77%	14.46%	65.14%	71.48%
Cost of Revenue	6,180	6,088	5,203	4,343	3,810	2,291
Gross Profit	1,629	1,699	1,563	1,657	1,432	882.87
Selling, General & Admin	444.38	429.87	378.81	418	354.52	239.92
Operating Expenses	444.38	429.87	378.81	418	354.52	239.92
Operating Income	1,184	1,270	1,184	1,239	1,077	642.96
Interest Expense	-71.27	-66.67	-82.09	-102.46	-115.46	-137.76
Interest & Investment Income	240.77	240.77	250.7	209.99	88.87	62.88
Earnings From Equity Investments	196.73	189.98	124.75	88.12	36.23	89.7
Other Non Operating Income (Expenses)	202.93	197.13	131.68	113.47	82.74	62.15
EBT Excluding Unusual Items	1,754	1,831	1,609	1,548	1,169	719.93
Gain (Loss) on Sale of Investments	-	-	-	-	9.84	-
Gain (Loss) on Sale of Assets	-	-	-	-	43.03	-
Pretax Income	1,754	1,831	1,609	1,548	1,222	719.93
Income Tax Expense	181.74	202.05	141.51	-	-	-
Earnings From Continuing Operations	1,572	1,629	1,468	1,548	1,222	719.93
Minority Interest in Earnings	-0.28	-0.26	-0.64	-0.56	-0.52	-
Net Income	1,572	1,628	1,467	1,547	1,222	719.93
Net Income to Common	1,572	1,628	1,467	1,547	1,222	719.93
Net Income Growth	2.64%	11.01%	-5.18%	26.63%	69.71%	-
Shares Outstanding (Basic)	4,664	4,667	4,667	4,667	4,667	4,667
Shares Outstanding (Diluted)	4,664	4,667	4,667	4,667	4,667	4,667
EPS (Basic)	0.34	0.35	0.31	0.33	0.26	0.15
EPS (Diluted)	0.34	0.35	0.31	0.33	0.26	0.15
EPS Growth	2.86%	11.01%	-5.18%	26.63%	69.71%	-
Free Cash Flow	332.03	532.8	1,699	1,926	1,932	1,896
Free Cash Flow Per Share	0.07	0.11	0.36	0.41	0.41	0.41
Dividend Per Share	-	-	0.250	0.200	0.150	0.085
Dividend Growth	-	-	25.00%	33.33%	76.47%	-
Gross Margin	20.86%	21.82%	23.10%	27.61%	27.31%	27.82%
Operating Margin	15.17%	16.30%	17.50%	20.64%	20.55%	20.26%
Profit Margin	20.13%	20.91%	21.68%	25.79%	23.31%	22.68%
Free Cash Flow Margin	4.25%	6.84%	25.11%	32.10%	36.85%	59.74%
EBITDA	1,643	1,709	1,685	1,767	1,612	1,174
EBITDA Margin	21.04%	21.95%	24.91%	29.45%	30.75%	36.98%
D&A For EBITDA	458.61	439.64	501.38	528.55	534.72	530.68
EBIT	1,184	1,270	1,184	1,239	1,077	642.96
EBIT Margin	15.17%	16.30%	17.50%	20.64%	20.55%	20.26%
Effective Tax Rate	10.36%	11.04%	8.79%	-	-	-
Advertising Expenses	-	44.33	46.1	37.66	29.66	17.82

Source: S&P Global Market Intelligence. Standard template. Financial Sources.