1.4 billion dirhams, net profits of Etihad Airways in 9 months

Yesterday, Etihad Airways announced its financial results for the nine months ending September 30, 2024, recording net profits after tax of 1.4 billion dirhams, an increase of 66%, which is considered a significant improvement over the same period last year.

The company stated, in a statement, that total revenues rose by 21% to 18.4 billion dirhams in the first nine months of this year, from 15.1 billion dirhams in the same period last year, driven by the increase in the number of travelers and the summer holiday, and the success of the strategy to expand the company’s network of destinations. In addition to the important growth in the size of the shipping sector, especially in the third quarter of 2024.

Passenger revenues increased by 21% to reach 15.2 billion dirhams, as a result of the strategic expansion of the destination network, in addition to increasing the number of flights, which contributed to enhancing the connectivity capabilities provided by the company.

Etihad Airways transported about 14 million passengers during the first nine months of 2024, an increase of 35% over last year.

Freight revenues rose to three billion dirhams, an increase of 21% over the same period last year, driven by increased capacity, higher freight volume, and improved revenues.

Etihad Airways CEO, Antonaldo Neves, said: “We are pleased to announce our strong performance for the first nine months of 2024, with a 21% increase in revenues, and 66% in net profit after tax, compared to the same period in 2023, where This remarkable growth is due to strong results in passenger and cargo revenues.”

He added: “We are continuing to strengthen our operational fleet, with the start of operation of the six A321 NEO aircraft, and despite the continued shortage of aircraft worldwide, our fleet has grown to 95 aircraft during the first nine months of this year, an increase of 16 aircraft.” Compared to the same period last year,” he explained, “The number of passengers during the past 12 months reached about 18 million passengers, which means an 80% increase compared to 2022, which confirms our growth at a smooth and sustainable pace over the past two years.”