Etihad Airways has reported revenues of AED20.3bn (€5.1bn) for 2023; 11% up on the previous year.
The Abu Dhabi-based carrier boosted annual passenger numbers by 40% to 14 million people and recorded operating profits of AED1.4bn.
Etihad’s strong performance in 2023 follows a successful reorganisation of its business, sharpening its focus on the core airline offering by divesting from ancillary support services and businesses; restructuring the fleet to focus on the most efficient and advanced aircraft; streamlining and rationalising its destination network; and increasing focus on productivity and cost savings.
His Excellency Mohammed Ali Al Shorafa, chairman of Etihad Aviation Group, said: “I am confident we will continue to build on this solid foundation as we grow our network, enhance our offering and connect even more people with Abu Dhabi as we support and promote the Emirate’s tourism ambitions, delivering our vision to be the airline that everyone wants to fly.”
Antonoaldo Neves, Etihad Airways chief executive, said: “Following our strong performance in 2023, in which we achieved AED1.4bn operating result and a net profit of AED525m, 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.”
