Etihad Posts Biggest Ever Annual Profit, Driven by Surge in Passenger Revenues

Etihad Airways has reported its highest annual profit ever with a profit of AED1.7bn (€443m) confirmed for 2024.

It was also the Abu Dhabi-based airline’s third consecutive year of profitability.

That record profit was driven by a AED20.8bn passenger revenue and AED4.2bn cargo revenue as well as various operational efficiency programmes.

The airline carried 18.5 million passengers last year, a 32% increase from the previous year, reflecting strong and sustained demand across its expanding network.

Total revenue saw a year-on-year increase of 25% to AED25.3bn. This growth was driven by a robust performance in both passenger and cargo business. Passenger revenue increased by AED4.2bn, or 25% compared to 2023, reflecting an enhanced network and increased capacity.

His Excellency Mohammed Ali Al Shorafa, Chairman of Etihad Airways, said: “We extend our gratitude to our guests and the dedicated Etihad family for allowing us to realise our ambitions and consistently delivering the reliable, best-in-class service that defines our operations. The unwavering commitment of our team has strengthened our airline, boosting efficiency while consistently improving our exceptional customer experience.

“As we expand our network and enhance our offerings, we remain focused on connecting more people with Abu Dhabi and supporting the Emirate’s tourism ambitions, fulfilling our vision to be the airline that everyone wants to fly.”

Antonoaldo Neves, Chief Executive of Etihad Airways, said: “These results are testament to the dedication of our people who have worked together for a purpose, delivering our strategy. Their efforts have driven improvements in customer satisfaction measured across all cabin classes and numerous other touchpoints. Equally they have delivered sustainable, profitable growth while maintaining disciplined efficiency and a steadfast commitment to safety.

“Looking ahead, I am confident we will continue to be a financially strong airline delivering extraordinary customer experiences, fulfilling our shareholder’s mandate, and contributing to the long-term prosperity and success of the UAE.”