1Q earnings from Aramco, flynas, and Agility Global

Aramco’s net income jumps in 1Q, courtesy of the East-West pipeline

Aramco posted strong growth in its bottom line in the first quarter, with its net income up 25% y-o-y to USD 32.5 bn. Higher oil prices and refining margins helped Aramco offset the impact of supply disruptions and attacks on energy infrastructure across the region.

Behind the resilience was Saudi’s rerouting infrastructure, which spared it — and the global energy market — the worst of the negative impacts of the Hormuz disruption. The East-West pipeline “has proven itself to be a critical supply artery, helping to mitigate the impact of a global energy shock and providing relief to customers affected by shipping constraints,” CEO Amin Nasser said in the earnings statement (pdf).

How much time until recovery? It’s all about how long Hormuz remains shut. Reopening the Strait of Hormuz today could mean markets are set to recover in a few months. “But if trade and shipping remain curtailed by more than a few weeks from today, we anticipate the supply disruption to persist, and the market to normalize only in 2027,” Nasser said in an emailed statement to Bloomberg.

Flynas’s net income falls despite higher revenue in 1Q

Capacity growth supported Flynas’s top line, but rising costs weighed on its profitability. The low-cost carrier saw its net income fall 20.3% y-o-y to SAR 117.9 mn in 1Q 2026, according to its financial release. Revenue rose 9.7% y-o-y to SAR 2 bn during the quarter, buoyed by capacity expansion and continued passenger demand across the airline’s network.

Behind the numbers: The decline in the bottom line was driven by higher fuel costs, alongside increased handling and navigation charges, elevated maintenance expenses from greater operating activity, and additional wet-lease costs.

Agility Global posts stronger 1Q revenue

Menzies and logistics parks keep Agility in growth mode: Abu Dhabi-listed Agility Global saw its revenue jump 23% y-o-y to USD 1.4 bn in 1Q 2026, driven by strong performance at its aviation services arm Menzies, higher fuel logistics activity at Tristar, and an expanding portfolio of income-generating assets across Agility Logistics Parks, according to its financial release.

Segment-by-segment breakdown: Menzies recorded a 34% y-o-y rise in revenue to USD 869 mn, supported by full contribution from the G2 acquisition and improved portfolio yields, while Tristar saw its revenue rise 9% on the back of stronger fuel logistics activity. Meanwhile,

Agility Logistics Parks posted 44% y-o-y revenue growth, driven by more facilities transitioning into full income-generating operations.