Etihad Airways’ net income tripled in 2024: Etihad Airways’ net income after tax surged threefold to AED 1.7 bn in 2024, fueled by strong passenger and cargo growth, the ADQ-owned carrier said in a statement. Total revenue climbed 25% y-o-y to AED 25.3 bn, driven by a 25% rise in passenger revenue to AED 20.8 bn, supported by network expansion and higher capacity. Cargo revenue surged 24% y-o-y to AED 4.2 bn, supported by a 12% rise in cargo volumes and improved yields in the second half of the year.

The Abu Dhabi-based airline transported 18.5 mn passengers during the year, marking a 32% y-o-y increase, with passenger load factor edging up to 87% from 86% in 2023.

Etihad grew its operating fleet to 97 aircraft, adding 12 new planes, including six A320 NEOs and a fifth A380. It also launched 20 new destinations — including Boston, Jaipur, Bali, and Nairobi — bringing its network to 80 cities, with over 10 set to start operations in 2025. The airline also greenlit an AED 3 bn retrofit program, its largest ever, and launched a dedicated premium call center, aimed at improving cabin experience and customer satisfaction.

REMEMBER- Etihad is set to hit the ADX as soon as this month: Earlier this month, Neves hinted that Etihad Airways could list a 20% stake on the ADX as soon as February. The airline reportedly launched its IPO roadshow in January, with the offering expected to raise up to USD 1 bn, valuing the company at USD 5 bn. While an IPO was initially planned for last year, Reuters reported in September that the idea to present investors with 2024 financial results, along with geopolitical instability, weighed on the timing.

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