Etihad Airways reports 26% profit growth
Etihad Airways posted a nine-month profit of 1.7 billion dirhams ($463 million), up 26% from last year, as passenger and cargo revenue surged.
The Abu Dhabi-based airline saw passenger revenue climb 20% to 18.2 billion dirhams thanks to increased capacity and an expanded network, while cargo revenue grew 8%. Total revenue reached 21.7 billion dirhams, supported by a fleet of 115 aircraft, 19 more than the previous year, and a strong load factor of 88%.
CEO Antonoaldo Neves emphasized the airline’s focus on efficiency and performance. Etihad, owned by Abu Dhabi’s $225 billion ADQ fund, has no immediate plans for an IPO, citing sufficient resources to self-fund its $20 billion growth strategy over the next decade. The company continues to expand following multi-year restructuring and management changes under Neves’ leadership.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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