Etihad Airways announces highest-ever profit in 2024, US$476 million
Etihad unveils 2024 financial results
Etihad Airways has announced its results for 2024, recording strong performance across all key metrics with a US$ 476 million (AED 1.7 billion) profit after tax driven by US$ 5.7 billion (AED 20.8 billion) passenger revenue and US$ 1.1 billion (AED 4.2 billion) Cargo revenue, alongside significant operational efficiency improvements.
The airline carried 18.5 million passengers last year, a 32 percent increase from the previous year. This growth was supported by a 28 percent year-on-year increase in Available Seat Kilometres (ASK) and an improved passenger load factor, which reached 87 percent in FY24, compared to 86 percent in 2023.
Total revenue saw a year-on-year increase of 25 percent to US$ 6.9 billion (AED 25.3 billion). This growth was driven by a robust performance in both passenger and cargo business. Passenger revenue increased by US$ 1.1 billion (AED 4.2 billion), or 25 percent compared to 2023, reflecting an enhanced network and increased capacity.
The airline’s operating fleet continued to expand with the addition of 12 aircraft, including the introduction of a new fleet type, with six A320 NEOs, and the re-entry into service of its fifth A380. Etihad now operates the youngest and most fuel-efficient fleet in the region, supporting its ESG strategy to minimize carbon emissions while enhancing its service offerings, the press release said.
The airline invested in passenger experience enhancements, driving a significant NPS increase, reflecting higher operational and service satisfaction. In 2024, the airline approved a US$816 million (AED 3 billion) retrofit program—its largest-ever—which, once underway, is expected to further elevate cabin comfort, inflight experience and NPS.
Etihad also introduced a dedicated premium call centre, delivering faster and more personalized service for premium travellers, leveraging AI to boost productivity. More than 200 enhancements were made to the website and app to further improve the guest experience. Additionally, the airline’s loyalty program, Etihad Guest, reached a milestone of 10 million members.
Recognizing these achievements, Etihad received multiple industry awards from bodies such as World Travel Awards and Business Traveller Awards, including Best Cabin Crew, Best Customer Experience, Best Economy Class, and Best First Class Lounge. It was also named Environmental Airline of the Year by AirlineRatings.com in 2024 for the third consecutive year.
Etihad’s team grew to more than 11,000 employees, with more than 2,000 new hires and 1,500+ promotions. UAE Nationals now represent 20 percent of the workforce, underscoring Etihad’s support for the UAE talent strategy and its role in developing future aviation professionals.
“We extend our gratitude to our guests and the dedicated Etihad family for allowing us to realise our ambitions and consistently delivering the reliable, best-in-class service that defines our operations. The unwavering commitment of our team has strengthened our airline, boosting efficiency while consistently improving our exceptional customer experience,” said His Excellency Mohammed Ali Al Shorafa, Chairman of Etihad Airways. “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, fulfilling our vision to be the airline that everyone wants to fly.”
Antonoaldo Neves, Chief Executive Officer of Etihad Airways also commented: “These results are a testament to the dedication of our people who have worked together for a purpose, delivering our strategy. 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.”
The full report is available here.
