Air Petroleum Services (PAS) reported a net profit of $50 million for the year 2025, marking a significant increase in total revenues which reached $161.3 million, compared to $147.5 million in 2024. The company also recorded a pre-tax net profit of $45.9 million, up from $40.7 million the previous year.
In a statement, Ihab Abdel-Maqsoud, the CEO of Air Petroleum Services, confirmed that the issued and fully paid capital has reached $200 million following the board's approval to increase it by $100 million.
Event Details
Abdel-Maqsoud reviewed the company's performance for 2025, highlighting that the total fleet consists of 39 aircraft, including 31 helicopters and 8 fixed-wing aircraft. He noted that the company continues to implement its ongoing fleet modernization plan by adding new aircraft models such as the Agusta AW169, which are set to join the fleet starting March 2027.
Regarding helicopter operations, Abdel-Maqsoud reported that the company executed 100% of its contracts for transporting crews and equipment to land and offshore sites in 2025, in addition to completing 21 medical evacuation flights in record times.
Background & Context
Air Petroleum Services was established to meet the needs of the oil and gas sector in the region, providing specialized air transport services. The company has experienced significant growth in recent years, reflecting the increasing demand for its services amid the expansion of energy projects.
It is considered one of the leading companies in this sector, contributing to enhancing air transport operations in oil and gas, which underscores its important role in supporting the national economy.
Impact & Consequences
Achieving a net profit of $50 million is a significant milestone for Air Petroleum Services, reflecting the efficiency of its management and growth strategies. This success strengthens the company's market position and enhances its capacity for future expansion.
The positive financial results bolster investor and partner confidence, potentially leading to more contracts and new projects in the future.
Regional Significance
Air Petroleum Services serves as a model in the energy and air transport sector in the Arab region. Its success reflects the ability of Arab companies to compete in global markets and enhances opportunities for cooperation among Arab countries in energy and transport sectors.
Amid global economic challenges, the success of local companies like Air Petroleum Services contributes to strengthening economic stability in the region and demonstrates the ability of Arab nations to achieve sustainable development.