Etihad Airways Reports Record AED 1.7 Billion Profit in 2024

Etihad Airways has announced its full-year results for 2024, posting a profit after tax of AED 1.7 billion (U.S.$ 476 million).

This strong financial performance was propelled by a 25% year-on-year increase in total revenue, reaching AED 25.3 billion (U.S.$ 6.9 billion).

Passenger revenue alone contributed AED 20.8 billion (U.S.$ 5.7 billion), while cargo revenue grew to AED 4.2 billion (U.S.$ 1.1 billion), marking a 24% increase.

Passenger Numbers Surge as Demand Grows
The airline carried 18.5 million passengers in 2024, a 32% rise compared to the previous year.

This growth was underpinned by a 28% increase in Available Seat Kilometres (ASK) and an improved passenger load factor, which reached 87%, up from 86% in 2023.

“These results are testament to the dedication of our people who have worked together for a purpose, delivering our strategy,” said Antonoaldo Neves, Chief Executive Officer of Etihad Airways. “Their efforts have driven improvements in customer satisfaction across all cabin classes while maintaining disciplined efficiency and a steadfast commitment to safety.”

Expanding Network and Fleet Growth


Etihad expanded its operations significantly in 2024, increasing weekly flights to over 1,700 and adding 12 aircraft to its fleet. The airline introduced new destinations, including Boston, Jaipur, Bali, and Nairobi, with over 10 more cities set to be launched in 2025. It also reintroduced its fifth A380 and welcomed six new A320 NEOs, enhancing efficiency and sustainability.

“As we expand our network and enhance our offerings, we remain focused on connecting more people with Abu Dhabi and supporting the Emirate’s tourism ambitions,” said His Excellency Mohammed Ali Al Shorafa, Chairman of Etihad Airways. “Fulfilling our vision to be the airline that everyone wants to fly is at the heart of our operations.”

Enhanced Customer Experience and Loyalty Program

In a bid to elevate its passenger experience, Etihad launched an AED 3 billion cabin retrofit program, its largest-ever investment in customer comfort.

The airline also introduced a dedicated premium call centre and made over 200 enhancements to its website and mobile app. Etihad Guest, the airline’s loyalty programme, reached a milestone of 10 million members.

Recognizing its achievements, Etihad was awarded multiple accolades in 2024, including Best Cabin Crew, Best Customer Experience, Best Economy Class, and Best First Class Lounge by the World Travel Awards and Business Traveller Awards. Additionally, it was named Environmental Airline of the Year by AirlineRatings.com for the third consecutive year.

Financial Strength and Operational Efficiency


Etihad strengthened its profitability through increased efficiency, with Cost per Available Seat Kilometre (CASK) decreasing by 3% and CASK excluding fuel dropping by 4%. Operating costs were optimised, leading to a 32% rise in EBITDA, reaching AED 4.7 billion (U.S.$ 1.3 billion). Net finance costs saw a remarkable decline of AED 1 billion, or 80%, driven by balance sheet deleveraging.

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

Investing in Talent and UAE National Strategy

Etihad’s workforce grew to over 11,000 employees, with more than 2,000 new hires and over 1,500 promotions. The airline also reinforced its commitment to the UAE’s talent strategy, with UAE Nationals now making up 20% of the workforce. Over 70 Emirati cadet pilots graduated in 2024, with more than 3,000 applications received for the latest cadet program.

Strengthening Global Partnerships

Etihad expanded its global reach through 126 interline, codeshare, and strategic partnerships, including a landmark deal with China Eastern Airlines, the first of its kind between a Middle Eastern and Chinese airline. A strategic partnership with SF Airlines further enhanced the airline’s cargo and logistics capacity.

“The unwavering commitment of our team has strengthened our airline, boosting efficiency while consistently improving our exceptional customer experience,” said Al Shorafa. “We extend our gratitude to our guests and the dedicated Etihad family for allowing us to realise our ambitions.”

Key 2024 Highlights:

  • Revenue Growth: AED 25.3 billion (U.S.$ 6.9 billion), up 25% year-on-year.
  • Passenger Revenue: AED 20.8 billion (U.S.$ 5.7 billion), a 25% increase.
  • Cargo Revenue: AED 4.2 billion (U.S.$ 1.1 billion), up 24%.
  • Passenger Growth: 18.5 million passengers carried, a 32% increase.
  • Fleet Expansion: 12 additional aircraft, including six A320 NEOs.
  • Profitability: Profit after tax more than tripled compared to FY23.
  • Operational Efficiency: EBITDA increased by 32% to AED 4.7 billion (U.S.$ 1.3 billion).
  • Network Expansion: 80 destinations operated by December 2024.
  • Workforce Growth: Over 11,000 employees, with 20% being UAE Nationals.
  • Sustainability Recognition: Named Environmental Airline of the Year for the third consecutive year.