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‘ numbers have improved considerably in 2023, as you can see from the following below:
| Year ended 31 December | Year ended 31 December | |||
| 2023 | 2022 | 2023 | 2022 | |
| (AED million) | (USD million) | |||
| Main financial KPIs | ||||
| Revenues | 20,287 | 18,307 | 5,524 | 4,985 |
| – Passenger | 16,662 | 12.688 | 4,537 | 3,455 |
| – Cargo | 3,357 | 5,377 | 914 | 1,464 |
| Operating result | 1,447 | 1,260(1) | 394 | 343(1) |
| Net profit | 525 | 92(1) | 143 | 25(1) |
| Year ended 31 December | ||
| 2023 | 2022 | |
| Main Operating KPIs | ||
| ASK (bn) | 72.5 | 56.0 |
| Passenger number (m) | 14 | 10 |
| Passenger load factor (%) | 86% | 82% |
| N. of destinations as of December(2) | 72 | 69 |
| Operating fleet (incl. 5 freighters) | 85 | 71 |
| Cargo tonnes (m) | 371 | 372 |
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…
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…
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.
Click the banner to subscribe to our weekly newsleter.
Click the photo to join our WhatsApp channel so then you can stay up to date with everything going on in the aviation industry!
