Abu Dhabi’s Etihad posts record $232m half-year profit
Etihad Airways reported a record profit in the first half of the year, driven by robust demand for travel and cargo revenue as the Abu Dhabi-based carrier prepares for a possible initial public offering (IPO). The national airline posted net profit after tax of $232m (Dhs851m) in the six months ended June, up 48 per cent compared to $157m a year earlier, it said in a statement Thursday. Etihad carried 8.7m passengers in the January-June period, a 38 per cent increase compared to the same period a year ago. Its passenger traffic in H1 is approximately three times higher than IATA’s average growth rate of 13% for Middle Eastern carriers, the statement added. “Etihad continues to play a pivotal role in advancing Abu Dhabi’s tourism and economic development. Our strategic growth and network expansion not only bolster the connectivity of our capital but also significantly contribute to the prosperity of the UAE’s economy,” said Mohammed Ali Al Shorafa, chairman of Etihad Aviation Group. During this time, Etihad’s passenger revenue surged by 24% year-on-year, underscoring strong demand for travel due to network expansion and increased flight frequencies.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-08-09/unaligned/abu-dhabi2019s-etihad-posts-record-232m-half-year-profit
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Abu Dhabi’s Etihad posts record $232m half-year profit
Etihad Airways reported a record profit in the first half of the year, driven by robust demand for travel and cargo revenue as the Abu Dhabi-based carrier prepares for a possible initial public offering (IPO). The national airline posted net profit after tax of $232m (Dhs851m) in the six months ended June, up 48 per cent compared to $157m a year earlier, it said in a statement Thursday. Etihad carried 8.7m passengers in the January-June period, a 38 per cent increase compared to the same period a year ago. Its passenger traffic in H1 is approximately three times higher than IATA’s average growth rate of 13% for Middle Eastern carriers, the statement added. “Etihad continues to play a pivotal role in advancing Abu Dhabi’s tourism and economic development. Our strategic growth and network expansion not only bolster the connectivity of our capital but also significantly contribute to the prosperity of the UAE’s economy,” said Mohammed Ali Al Shorafa, chairman of Etihad Aviation Group. During this time, Etihad’s passenger revenue surged by 24% year-on-year, underscoring strong demand for travel due to network expansion and increased flight frequencies.<br/>
