DUBAI, United Arab Emirates– Long-haul service provider Etihad Airways introduced Wednesday it made a document $476 million revenue in 2024, component of an economic rebound for the Abu Dhabi-based airline company.
While still a slim revenue contrasted to rival Emirates’ record profits of $4.7 billion in 2023, it remains to a significant turn-around for Etihad.
The airline company had profits of almost $6.9 billion in 2024,compared to $5.5 billion in 2023 Its revenue in 2023 was simply $143 million.
Etihad associated its greater revenue to raised traveler numbers, a healing in its freight procedures and reducing its prices. It flew 18.5 million travelers in 2024, up 32%. Its freight profits for the year were $1.1 billion, up 24%.
” These outcomes are testimony to the devotion of our individuals that have actually interacted for a function: supplying our technique,” chief executive officer Antonoaldo Neves stated in a declaration. “Looking in advance, I am positive we will certainly remain to be a monetarily solid airline company supplying amazing consumer experiences, satisfying our investors’ required and adding to the lasting success and success of the UAE.”
Abu Dhabi’s leaders released Etihad in 2003, measuring up to the well established Dubai government-owned service provider Emirates, which flaunts a bigger fleet and a remote network.
Emirates flies out of Dubai International Airport terminal, situated just 115 kilometers (70 miles) far from the resources of Abu Dhabi. Both airline companies complete in the long-haul service provider market, utilizing their country’s place as a crucial east-west transportation indicate their benefit.
Etihad had problem with its company strategy and underwent cost-cutting measures also prior to the COVID pandemic. Given that 2016, Etihad has actually shed some $6 billion as it has actually strongly gotten up risks in airline companies from Europe to Asia to complete versus Emirates and Qatar Airways.
Etihad’s network currently flies to 80 areas with a fleet of 97 airplane.
