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.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cleveland Star.

More Information

null in null

Business

Section

Wall Street ends volatile day higher

U.S. stocks finish in front Thursday despite volatility

NEW YORK, New York - U.S. stock markets see-sawed Thursday as the judicial system became a key player in Donald Trump's trade wars....

French farmers jam Paris roads in push for eased regulations

French farmers bring tractors to Paris to press for ease in rules

PARIS, France: French farmers brought traffic to a crawl around Paris and gathered outside the National Assembly on May 26, using their...

Amid trade tensions, France, Vietnam ink deals worth $10 billion

France, Vietnam sign deals worth $10 billion as Macron visits Hanoi

HANOI, Vietnam: Amid shifting global trade dynamics and growing concerns over U.S. tariffs, France and Vietnam have signed more than...

Wall Street has relapse Wednesday, after Tuesday's heady gains

U.S. stocks slide as 30-year bond yields top 5 percent

NEW YORK, New York - U.S. stocks were weaker Wednesday, following Tuesday's heady gains when the Dow Jones jumped 741 points. Bond...

China’s GAC launches in Brazil as EV demand accelerates

China's GAC enters Brazil EV market, plans factory by 2026

SAO PAULO, Brazil: Amid a surge in electric vehicle (EV) adoption and growing competition in Brazil, Chinese automaker GAC has officially...

McDonald’s to shut down CosMc’s drink spinoff after short run

McDonald's to close standalone beverage concept

CHICAGO, Illinois: McDonald's is closing its experimental beverage spinoff, CosMc's, less than two years after launching the standalone...

Ohio

Section

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

Watch latest videos

News RELEASES

Business

Wall Street ends volatile day higher

French farmers jam Paris roads in push for eased regulations

Amid trade tensions, France, Vietnam ink deals worth $10 billion

Wall Street has relapse Wednesday, after Tuesday's heady gains

China’s GAC launches in Brazil as EV demand accelerates

McDonald’s to shut down CosMc’s drink spinoff after short run

Ohio

Volvo CEO: Customers could bear cost of rising US tariffs

Centre grants second one-year service extension to DRDO chief Dr Samir V Kamat

Oracle, Cleveland Clinic, G42 announce strategic partnership to launch AI-based global healthcare delivery platform

PureHealth, SEHA partner with Cincinnati Children's to advance paediatric care ecosystem

Cleveland Clinic Abu Dhabi performs transcontinental robotic-assisted focal therapy for prostate cancer

M42 partners with Toshiba to build Middle East's first heavy-ion therapy facility

Movie Review

The Hills Have Eyes (1977) (4K UHD) [Blu-Ray]