Etihad posts record full year profit
Etihad Airways posted its best ever airline profit for the full year 2024.
It achieved a record AED 1.7 billion ($476 million) profit driven by AED 20.8 billion (£4.5 billion) passenger revenue and AED 4.2 billion (£909 million) cargo revenue.
It marks the third consecutive year of profitability and a tripling of the profit from 2023.
The airline saw growth across all metrics and achieved operational efficiency improvements.
The airline carried 18.5 million passengers in 2024, a 32% increase.
There was an improved passenger load factor at 87% in FY24.
Total revenue saw a year-on-year increase of 25% to AED 25.3 billion (£5.5 billion) driven by both passenger and cargo business.
Passenger revenue increased by AED 4.2 billion (£909 million), or 25% thanks to an incraesed network and seat capacity.
In 2024, the airline expanded its operations to over 1,700 weekly flights and increased frequencies on 25 routes over the past two years.
It also launched more than 20 new destinations, such as Boston, Jaipur, Bali, and Nairobi, alongside summer hotspots like Antalya, Nice, and Santorini
Over10 of these cities are set to begin operations in 2025.
The airline’s operating fleet expanded with the addition of 12 aircraft, including the introduction of a new fleet-type, with six A320 NEOs.
Etihad also brought back its fifth Airbus A380.
Antonoaldo Neves, Chief Executive Officer of Etihad Airways, said: “Looking ahead, I am confident we will continue to be a financially strong airline contributing to the long-term prosperity and success of the UAE.”
The airline’s network now has 126 interline, codeshare, and strategic partnerships, including a landmark partnership with China Eastern, the first of its kind between a Middle Eastern and Chinese airline.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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