Etihad Airways posts record 2024 profit on strong travel demand

Etihad Airways posted a record after-tax profit of Dh1.75 billion ($476 million) last year, more than three times that of 2023, driven by strong passenger and cargo revenue as the Abu Dhabi airline continues to expand its route network. Total revenue increased by 25 per cent annually to Dh25.3 billion ($6.9 billion), driven mainly by a 25 per cent surge in passenger revenue, the airline said on Wednesday. Passenger traffic grew by 32 per cent annually to 18.5 million, as Etihad Airways launched more than 20 new destinations during the year, including Boston, Jaipur, Bali and Nairobi. Flights to more than 10 of these cities are set to begin operations this year. Passenger load factor reached 87 per cent, while available seat kilometres (ASK) increased 28 per cent year-on-year. 'Looking ahead, I am confident we will continue to be a financially strong airline delivering extraordinary customer experiences, fulfilling our shareholder's mandate, and contributing to the long-term prosperity and success of the UAE,' Antonoaldo Neves, chief executive of Etihad Airways, said. More to follow …

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