Etihad Airways is doubling down on investments and targeting break-even, despite this year’s disruptions

Abu Dhabi flag carrier Etihad Airways is flying 15% more than last year, despite headwinds like geopolitical disruptions and rising costs, Chief Revenue and Commercial Officer Arik De tells EnterpriseAM on the sidelines of Arabian Travel Market. That’s a step up from the airline's previously published figure of 10% more summer capacity y-o-y, disclosed in June. Etihad's planes are running at roughly 90% full, De says.

IN CONTEXT- It has been an unforgiving year for Gulf aviation. The Iran war forced airlines across the region to reroute, spiking fuel costs and grounding flights outright. The International Air Transport Association expects Middle Eastern carriers to post a combined loss this year, the only region forecast to be unprofitable in 2026. Emirates and Qatar Airways both pulled back summer capacity in response.

Etihad Airways did the opposite. The Abu Dhabi carrier added more than 20 aircraft to its fleet this year, pushed ahead with new routes across Europe, Africa, and China, and is now targeting break-even for the full year — a goal first flagged by CEO Antonoaldo Neves earlier this year in an interview with CNBC. It also held rates this year, Neves told The National, with around 320 flights operating a day — a number it plans to increase by 25% by the end of next year to about 400 flights.

More incoming: The carrier expects to take delivery of 15 new aircraft by December as part of its expansion plans, Neves told Asharq Business. It invests around USD 3.5 bn annually into its fleet and aims to break even in 2026, Neves said.

That’s thanks to the airline’s strong track record over the past few years, which gave it a strong balance sheet and put it in a “good financial position to weather any short-term challenges,” De adds. The airline reported record earnings last year, with income after tax rising 47% y-o-y to AED 2.6 bn and total revenue increasing 21% to AED 30.7 bn.

That also means none of its expansion plans have changed. “We're not shying away from any investment because we see a very strong vision for demand, not only in the UAE but also in the region,” De explains. “As long as we keep our focus and our head down, I think we'll achieve our goals faster... we tweak things around the edges — when things work better, we double down on it. When things don't work well, we don't have the ego, we just walk away from it,” he adds, referring to the airline’s vision for 2030.