Etihad Airways has reported record first quarter net profits of AED526m (€133m), marking a solid start for its 2024 financial year.
The Abu Dhabi-based carrier carried 4.2 million passengers during the first quarter, up 41% on the corresponding period last year. Load factor stood at 86% for the period.
Antonoaldo Neves, chief executive of Etihad Airways, said: “We are pleased to report a strong start to the financial year 2024, with our first quarter earnings equivalent to our total net income for the entire financial year 2023 as we continue our margin expansion journey. We have maintained our resilience and our focus on customer service and growth while continuing to improve our commitment to efficiency.
“This significant profit increase was achieved even with the holy month of Ramadan starting in early March this year, compared to late March last year, demonstrating the adaptability of our business.
“Our plans are set to expand our network and enhance our offerings while connecting an ever-greater number of people to and via Abu Dhabi. I would like to extend my deepest thanks to all our employees whose hard work and dedication have been crucial in achieving these results.”
