Etihad continues to soar: UAE airline posts record profits of $476M for 2024  

Abu Dhabi-based carrier Etihad Airways has announced it made a record $476 million profit in 2024, as the Middle Eastern airline cashed in on efficiency improvements made during the year as well as embarking on major international expansion plans. Etihad said that an overall increase of 32% in passenger numbers during the twelve months also helped, alongside a cut in fuel costs and an increase in cargo revenues.

While the annual profitability of Etihad still falls well behind that of its local rival Emirates ($4.7 billion in 2024), the homegrown Abu Dhabi airline is feeling buoyant about its turnaround. The airline saw profits come in at $143 for 2023, while revenues for 2024 also hit a new high for the carrier reaching $6.9 billion.

In 2024, Etihad flew 18.5 million passengers while its cargo revenues for the year were $1.1 billion, an increase of 24% over 2023. By the end of the year, the airline operated to 80 locations with a fleet of 97 Airbus and Boeing aircraft. In 2024, the carrier expanded its fleet adding six additional Airbus A321neos and re-introducing a fifth A380 into its long-haul fleet.

KeleX Pictures / Shutterstock“These results are a testament to the dedication of our people who have worked together for a purpose: delivering our strategy,” said Etihad CEO Antonoaldo Neves. “Their efforts have driven improvements in customer satisfaction measured across all cabin classes and numerous other touchpoints. Equally, they have delivered sustainable, profitable growth while maintaining disciplined efficiency and a steadfast commitment to safety.”

“Looking ahead, I am confident we will continue to be a financially strong airline delivering extraordinary customer experiences, fulfilling our shareholders’ mandate, and contributing to the long-term prosperity and success of the UAE.”

The announcement of its latest profitability figures will come as a major boost to Etihad which is currently undergoing a major route expansion program for 2025. The launch of flights to Sochi in Russia on February 18, 2025, was the latest new route in a steady stream of expansion plans announced by Etihad in recent months. Indeed, the Russian city will become Etihad’s fourteenth new destination in 2025.

EtihadEtihad will also commence flights to other global cities including Atlanta, Hanoi, Hong Kong, and Taipei, as well as to the European capitals of Prague and Warsaw. Expanding its network across North Africa, Etihad will begin flying to Algiers, Tunis, and Al Alamein in 2025.

Additionally, Etihad will bolster its network across Southeast Asia, with new connections directly to popular vacation destinations including Chiang Mai and Krabi in Thailand, Medan on the island of Sumatra, and the cultural city of Phnom Penh in Cambodia. These flights join the carrier’s existing services across Southeast Asia including Phuket and Bangkok. Elsewhere, the Gulf-based airline will also commence direct flights between Abu Dhabi and Nairobi in Kenya.

As of the time of writing, the airline’s fleet currently stands at 104 aircraft in total with a further 98 on order which includes 20 Airbus A321LRs, 15 A350-1000s, eight Boeing 777-8s, 17 777-9s, 20 787-10s, and a further eight 787-9s.  

Abu Dhabi’s rulers launched Etihad in 2003 to rival its locally established competitor Emirates based at Dubai International Airport, located only 70 miles (115 km) up the road from Etihad’s base at Zayed International Airport in Abu Dhabi. Along with Doha-based Qatar Airways, the three Middle Eastern carriers (often referred to as the “Big Three”), the trio of airlines dominate the international airline scene, using their geographical location at the crossroads between the East and the West to their advantage by attracting millions of transiting passengers annually.

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