Etihad Airways reports a 48% surge in...

Carrier has added 16 aircraft to its fleet since 2023

Abu Dhabi-based carrier Etihad Airways has released its results for the first half of 2024. The carrier has achieved a 48% increase in profit after tax with the sum of US$232 million, compared to US$157 million generated in H1 2023.

The airline’s total revenue was up 21% to US$3.2 billion, from US$2.6 billion during the same period last year.

The result was attributed to passenger revenue, which saw a 24% year-on-year increase, reflecting strong demand fuelled by strategic network expansion and increased flight frequencies, further improving connectivity.

There was also a notable 10% increase in cargo revenue compared to the same period a year ago, primarily driven by higher demand and higher cargo capacity of the fleet.

Etihad carried 8.7 million passengers during the first half of 2024, up 38% year-on-year, which is about three-times higher than IATA’s reported average growth rate of 13% for Middle Eastern carriers in the same period.

Etihad Aviation Group CEO Antonoaldo Neves said: “We are pleased to report a strong first half of the 2024 financial year. This reflects a robust performance in both passenger and cargo revenues, demonstrating the soundness of our strategy and growth path."

Commenting on the airline's growing fleet, Neves added: "Notwithstanding global aircraft shortage, we have 16 more aircraft in our fleet of 92 than at the same point last year, including three A321neos. We are bringing six A321neos into operation this year, equipped with advanced CFM LEAP 1A engines. In the next 18 months, we expect to add more than 20 new generation aircraft to our fleet, which offer reduced emissions and up to 20% more efficiency compared to previous models."

For more information, visit www.etihad.com

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