Etihad Airways Soars in 2023: Airline Reports Strong Financials

Etihad Airways Soars in 2023: Airline Reports Strong Financials
Photo Credit: James Field/AviationSource
James Field - Editor in Chief 3 Min Read
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Etihad Airways soared in 2023, reporting strong financials that has propelled growth for the 2024 period.

The Abu Dhabi-based airline has boosted it’s profits significantly, putting the carrier in a positive position.

Without further ado, let’s get into it…

The Numbers for Etihad Airways…


Etihad Airways Soars in 2023: Airline Reports Strong Financials
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Etihad Airwaysnumbers have improved considerably in 2023, as you can see from the following below:

 Year ended 31 DecemberYear ended 31 December
 2023202220232022
 (AED million)(USD million)
Main financial KPIs
Revenues20,28718,3075,5244,985
–        Passenger16,66212.6884,5373,455
–        Cargo3,3575,3779141,464
Operating result1,4471,260(1)394343(1)
Net profit52592(1)14325(1)
 Year ended 31 December
 20232022
Main Operating KPIs
ASK (bn)72.556.0
Passenger number (m)1410
Passenger load factor (%)86%82%
N. of destinations as of December(2)7269
Operating fleet (incl. 5 freighters)8571
Cargo tonnes (m)371372

As you can see from the table, there has been significant improvements in profitability, revenues, passenger load factor and numbers.

So, in-all, not a bad 12-month period for Etihad Airways.

Neves: The Growth Strategy Continues…


Etihad Airways Soars in 2023: Airline Reports Strong Financials
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Commenting on the successful year was Antonoaldo Neves, the CEO of Etihad Airways who says that the strategy of growth continues:

“Following our strong performance in 2023, in which we achieved AED 1.4 billion (U.S.$ 394 million) operating result and a net profit of AED 525 million (U.S.$ 143 million), our task at hand is to further strengthen our business as we continue our growth strategy and pursue further margin expansion opportunities.”

“The execution capability of the Etihad team is outstanding, and it’s thanks to their relentless hard work that we have been able to achieve these results.”

“I am confident we have the best team in the world.”

“This accomplishment underscores our commitment to sustainable, profitable growth, robust cost control and operational efficiency.

“Looking forward, we will continue to deliver on the mandate of our shareholder, which is to be a financially viable airline delivering extraordinary customer experiences.”

Overall…


Photo Credit: James Field/AviationSource

In conclusion, Etihad Airways has had a very positive 2023, with this expected to continue into 2024.

Looking ahead, all eyes will be on the carrier to see if this success will grow further.

It is expected to, given the amount of new routes to be launched or on offer already.

But for now, let’s see how their 2024 performs, as well as into the long-term future as well. Things are looking bright.

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