Etihad Airways records AED 1.4mn profit for first nine months of 2024

The total revenue increased 21 per cent to AED 18.4 bn (U.S.$ 5.0 bn) in the first nine months of 2024, up from AED 15.1 bn (U.S.$ 4.1 bn) in the same period last year. Etihad Airways has announced its financial results for the nine months ended September 30, 2024, achieving AED 1.4 bn (U.S.$ 368 mn) profit after tax, a significant increase from AED 814 mn (U.S.$ 222 mn) during the same period in 2023. The strong results reflect the airline’s ongoing strategy of driving growth across the business alongside optimising operational efficiencies and improving customer service. The total revenue increased 21 per cent to AED 18.4 bn (U.S.$ 5.0 bn) in the first nine months of 2024, up from AED 15.1 bn (U.S.$ 4.1 bn) in the same period last year. This growth was driven by a strong summer season as a consequence of the successful execution of our network expansion strategy, alongside significant growth in the cargo business, particularly in the third quarter of the year. Secondly, the passenger revenue increased by 21 per cent, reaching AED 15.2 bn (U.S.$ 4.1 bn), driven by strategic network expansion and increased flight frequencies that further enhanced connectivity. Etihad carried almost 14 mn passengers over the first nine months of the year, a 35 per cent increase year-on-year, with Available Seat Kilometres (ASK) reaching 68.2 bn, up 31 per cent year-on-year. The average passenger load factor stood at 87 per cent for the nine months ended September 30, 2024, up from 86 per cent in the same period last year.