Etihad Airways records successful first half results

Etihad Airways' first half results revealed its post-tax profit increased by 48%, in comparison to the same period of 2023, to AED 851 million ($232 million). Total revenue during the first six months of the year increased by 21% to AED 11.7 billion ($3.2 billion). Etihad carried 8.7 million passengers over the first half of the year, up 38% compared to the same time period of the year prior. The airline’s average passenger load factor stands at 85% for the first half of 2024 – this remains unchanged compared to the first half of last year. “We are pleased to report a strong first half of the 2024 financial year, with profit after tax 48% higher than the net result reported in the same period of 2023,” said Antonoaldo Neves, chief executive officer of the Etihad Aviation Group, He continued: “Notwithstanding global aircraft shortage, we have 16 more aircraft in our fleet of 92 than at the same point last year, including three A321neos. We are bringing six A321neos into operation this year, equipped with advanced CFM LEAP 1A engines. In the next 18 months we expect to add more than 20 new generation aircraft to our fleet, which offer reduced emissions and up to 20% more efficiency compared to previous models.” There was also a notable 10% increase in cargo revenue, totalling AED 1.9 billion ($517.18 million) compared to the same period of 2023, primarily driven by higher demand and higher cargo capacity of the fleet. It carried a total of 320,00 tonnes of cargo, increasing by 46,000 tonnes compared to the same period last year. Mohammed Ali Al Shorafa, chairman of Etihad Aviation Group added: “Etihad’s 8.7 million passengers in the first half of the year accounted for over 63% of the total 13.7 million passengers at Zayed International Airport from January to June 2024. This total represents an approximate 34 per cent increase in passenger numbers through the airport compared to the first half of 2023.” The airline also increased its network by 11 cities, now serving a total of 81. In addition to these 11 new routes announced during the airlines first half, Etihad is also set to resume its operations to the Kenyan capital Nairobi from December 15, 2024.