/
| GEL thousands | 2022¹ | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| P&L Items | ||||
| Revenue | Register | Register | 45,261 | Register |
| Adj. Operating Profit² | Register | Register | (16,148) | Register |
| Adj. EBITDA² | Register | Register | (6,485) | Register |
| Net Income | Register | Register | (33,316) | Register |
| Margins & Profitability Ratios (%) | ||||
| Adj. Operating Profit Margin² | Register | Register | -35.7% | Register |
| Adj. EBITDA Margin² | Register | Register | -14.3% | Register |
| Net Income Margin | Register | Register | -73.6% | Register |
| Balance Sheet Items & Leverage | ||||
| Total Assets | Register | Register | 117,132 | Register |
| Total Debt³ | Register | Register | 135,248 | Register |
| Total Debt³ / Adj. EBITDA² | Register | Register | NMF | Register |
| Total Equity | Register | Register | (56,044) | Register |
¹ The first aircraft started flying in August–September 2022, so 2022 is not a full operating year. The 2022 balance sheet is as restated in the FY2024 filing (GEL 2.8m of lease-related losses added); no restated 2022 income statement was published.
² Adj. Operating Profit has been adjusted to exclude non-recurring and one-time items. Adj. EBITDA is calculated by adding back D&A expenses to the adjusted operating profit.
³ Total debt includes lease liabilities, where applicable.