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Etihad reports record Q1 net earnings
Gulf carrier Etihad Airways posted its first quarter results, recording net earnings of AED526 million (US$143 million), a significant improvement over Q1 2023.
Total revenue increased by AED987 million (US$269 million to AED5,739 million reflecting the network capacity increase and passenger numbers.
The airline carried 4.2 million passengers over the quarter, up 41% year-on-year.
The average passenger load factor is 86% which is unchanged from the first quarter of last year.
The airline has improved operational efficiency with decreasing unit cost from the same quarter last year.
Antonoaldo Neves, CEO of Etihad Airways, said: “Our first quarter airline profit is equivalent to our total net income for the entire financial year 2023.”
“We have maintained our resilience and our focus on customer service and growth while continuing to improve efficiency.”
During Q1, Etihad optimised its network with increased frequencies to key destinations.
The airline also launched new flights to Thiruvananthapuram, Kozhikode, and Boston, and announced additional routes to Antalya and Jaipur.
The airline has continued to its pivotal role in supporting Abu Dhabi’s tourism sector, driving a 43% increase in inbound point-to-point traffic compared to a year ago.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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