Etihad profit more than triples to $476 million before expected IPO

Etihad Airways’ profit soars to $476 million ahead of IPO

Robert Besser
23 Feb 2025, 21:35 GMT+10

Etihad profit more than triples to $476 million before expected IPO

Etihad Airways saw its net profit soar to $476 million last year, more than tripling its earnings as the airline continues its post-pandemic recovery and prepares for potential public listing
The airline’s strong financial performance was driven by $5.7 billion in passenger revenue and $1.1 billion in cargo revenue, supported by operational efficiencies, the company announced on Wednesday
Though Etihad did not confirm IPO plans in its earnings report, sources told Reuters last month that the carrier is exploring an initial public offering (IPO) as early as this quarter

DUBAI, U.A.E.: Etihad Airways saw its net profit soar to $476 million last year, more than tripling its earnings as the airline continues its post-pandemic recovery and prepares for potential public listing.

The airline's strong financial performance was driven by $5.7 billion in passenger revenue and $1.1 billion in cargo revenue, supported by operational efficiencies, the company announced on Wednesday.

"Looking ahead, I am confident we will continue to be a financially strong airline," CEO Antonoaldo Neves said in a statement.

Though Etihad did not confirm IPO plans in its earnings report, sources told Reuters last month that the carrier is exploring an initial public offering (IPO) as early as this quarter. The Abu Dhabi-based airline, owned by the $225 billion state wealth fund ADQ, is reportedly considering selling around 20 percent of its stake to both local and international investors.

Abu Dhabi has been expanding its aviation and tourism sectors as part of broader efforts to diversify its economy beyond oil. Etihad, which launched in 2003, has undergone extensive restructuring in recent years, aiming to strengthen its competitive position against other Gulf carriers.

The opening of a new multibillion-dollar terminal at Abu Dhabi's Zayed International Airport in 2023 tripled the hub's capacity to 45 million passengers annually, providing a strong foundation for future expansion.

Last year, Etihad added more than 20 new destinations to its network and has set ambitious plans to increase its reach to over 125 airports by 2030.