Etihad Airways has reported $698 million in profit after tax for 2025, marking a 47% increase on the prior year. Profit margin was up 1.5 percentage points to 8.4%.
The result was driven by unit cost discipline and a strong operating result.
The airline's operating cash flow increased 37% to $1.7bn for the year. Etihad said this allowed it to fully fund its capital expenditure requirements for the year and deleverage its balance sheet. The company's EBITDA margin increased two percentage points to 20%.
Revenues climbed 21% to $8.3bn for the year, including a 24% passenger revenue increase to $7bn and cargo revenues up 8% to $1.2bn.
Etihad said this was driven by passenger numbers increasing 21% to 22.4 million in the year, bolstered by a 21% capacity increase. Passenger load factor was up 1.5 percentage points to 88.3%.
“2025 has been a defining year for Etihad, delivering our strongest performance across every key metric and marking our fourth consecutive year of profitability,” said Etihad Airways CEO Antonoaldo Neves.
The airline added 29 aircraft during the year, growing its operating fleet to 127 aircraft.