Etihad Airways Report AED1.7 Billion Profit In 2024, Passenger Numbers Rise By 32%

Etihad Airways announced its full-year 2024 results, reporting a profit of AED 1.7 billion (US$476 million) after tax, showing strong growth across all key areas.

This was driven by AED 20.8 billion (US$5.7 billion) in passenger revenue and AED 4.2 billion (US$1.1 billion) in cargo revenue, along with massive improvements in operational efficiency.

"We extend our gratitude to our guests and the dedicated Etihad family for allowing us to realize our ambitions and consistently delivering the reliable, best-in-class service that defines our operations," Etihad Airways Chairman Mohammed Ali Al Shorafa said, according to WAM.

"The unwavering commitment of our team has strengthened our airline, boosting efficiency while consistently improving our exceptional customer experience," he added.

Etihad Airways Chief Executive Officer Antonoaldo Neves credited the airline's strong performance to the dedication of its employees. He highlighted that their teamwork and commitment have helped implement the company's strategy, leading to improvements in customer satisfaction across all cabin classes and service areas.

He also emphasized that their efforts have contributed to sustainable and profitable growth while maintaining efficiency and a strong focus on safety.

Looking ahead, he expressed confidence that Etihad Airways will continue to be financially strong, provide exceptional customer experiences, fulfill its shareholders' expectations, and contribute to the long-term growth and success of the UAE.

The airline carried 18.5 million passengers in 2024, a 32% increase from the previous year, reflecting strong demand across its expanding network. This growth was supported by a 28% rise in Available Seat Kilometres (ASK) and a higher passenger load factor, which reached 87% in 2024, up from 86% in 2023.

Etihad Airways reported a 25% year-on-year increase in total revenue, reaching AED 25.3 billion (US$6.9 billion) in 2024. This growth was driven by strong performance in both passenger and cargo operations.

Passenger revenue rose by AED 4.2 billion (US$1.1 billion), a 25% increase from 2023, due to an expanded network and higher capacity. Cargo revenue also grew by 24%, supported by a 12% increase in cargo leg tonnes carried and better yields in the second half of the year.

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 introduced more than 20 new destinations, including Boston, Jaipur, Bali, and Nairobi, as well as summer hotspots like Antalya, Nice, and Santorini. Over 10 of these cities are set to launch operations in 2025.

Etihad also expanded its fleet with 12 new aircraft, including six A320 NEOs, and reintroduced its fifth A380. The airline now operates the youngest and most fuel-efficient fleet in the region, supporting its ESG strategy to reduce carbon emissions while improving service quality.