Etihad Airways is no doubt soaring high with its latest announcement of incredible results achieved in the first nine months of 2024.
With profits skyrocketing by a whopping 66%, reaching AED 1.4 billion (US$ 368 million), that’s a major win and reason to celebrate!
The statement says the impressive performance is thanks to a winning strategy that is focused on expanding their network, improving efficiency, and pampering passengers. The summer season was a hit for the airline, with cargo business taking off, especially in Q3, enjoying a 21% boost thanks to increased capacity and improved yields.
Passenger numbers soared as well, with a 35% YoY increase, carrying nearly 14 million while enjoying an 87% load factor.
While Etihad continues to invest in growth and enhance the passenger experience, they kept an eye on efficiency as well. Unit costs decreased, showing a commitment to delivering value and they also introduced a 5th A380 and improved airport services at the new Terminal A at Zayed International Airport to ensure passengers enjoy an enhanced travel experience.
To further strengthen their global reach, Etihad formed a partnership with China Eastern in Q2 and expanded their collaboration with SF Airlines to boost trade relations between the UAE and China.
It’s been a fantastic year for Etihad, and they’re showing no signs of slowing down. With a focus on passenger satisfaction and operational excellence, the future looks bright for this dynamic airline.
Commenting on the strong performance, Antonoaldo Neves, Chief Executive Officer of Etihad Aviation Group, said, “This impressive growth is driven by strong results in both passenger and cargo revenues, underscoring the effectiveness of our strategy and the strength of our growth trajectory, where we are also seeing ongoing improvements in customer satisfaction.
Despite the global aircraft shortage, he said Etihad’s fleet has grown to 95 aircraft during the first nine months of the year, “with all six A321NEOs scheduled for delivery in 2024 now in service.”
“Our rolling 12-month passenger count has reached nearly 18 million, marking an increase of nearly 80 per cent compared to 2022 and underscoring the pace of our growth over the past two years,” he added. “We’ve also extended our network to 83 destinations as of September, up from 72 a year ago, with further growth expected by year-end.
Inline with the airlines growth, Neves also shared that they’ve successfully relaunched cadet program and promoted more than 1,000 pilots and crew member.
