Etihad Airways nets £183m as passenger numbers soar
Etihad Airways’ profit rose by 50 per cent in the first half of the year as passenger numbers soared despite a global shortage of aircraft.
Some 8.7m passengers flew with the UAE flag carrier in the six months ended June, a 38 per cent year-on-year increase that brought post-tax profit to £183m.
The boom in demand helped the airline haul in around £2.5bn in revenue, a 21 per cent increase.
Antonoaldo Neves, chief executive of Etihad Aviation Group, said the first half of the year had been “strong” and reflected the rise in both passenger and cargo revenues.
Neves also pointed to the Etihad’s growing fleet, which has now reached 92 despite worldwide supply chain issues in the delivery of new aircraft. “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,” he added.
Mohammed Ali Al Shorafa, chairman of Etihad Aviation Group, said: “Our dedication to customer service remains steadfast as we prepare to further expand our network and enrich our services, connecting more individuals to and through Abu Dhabi.”
It comes amid growing anticipation surrounding the Abu Dhabi-headquartered group’s plans for a public listing, which would be a first for a major airline in the Middle East.
Neves said in an interview in June he was “working very hard to make it happen whenever it is the time”. It marks a stark change in fortune from the huge losses Etihad posted nearly a decade ago when it attempted to expand rapidly by buying up regional carriers.
The initial public offering could raise as much as £800m, it has been reported. It would fall at a time when demand for international travel is booming following the dismal pandemic years.