Etihad Airways has announced its fiscal results for 2024, with strong performances across all its key metrics and a record 1.7 billion AED (£ 371million) profit after tax, which is triple that of 2023.
The airline’s figures show that it nearly doubled the cash generation, at £1.25 billion, compared to the previous year as a result of standout operating performance, and total revenue increasing 25% from 2023 as well.
Still, Etihad’s success the past year was spread over several areas other than profit, starting with passenger sector that saw a 32 per cent increase in number of passengers the airline carried, totaling 18.5 million passengers.
Etihad’s passenger load factor reached 87 per cent, an improvement from the previous years’ 86 per cent, despite there being more available seats on its flights for 2024, as it saw a 28 per cent year-on-year increase in available seat kilometers (ASK).
Etihad’s customer experience also improved as evidenced by an increase in its net promoter score (NPS) which assesses operational and service satisfaction. The airline affirms that the increase in these areas as a result of the investments it made into enhancing the passenger experience, approving the largest ever retrofit program that will upgrade cabin comfort and the inflight experience once its implemented.
It also expanded its global network, launching more than 20 new destinations worldwide, including major cities like Boston, Jaipur, and Nairobi, and flew upwards of 1,700 weekly flights.
His excellency Mohammed Ali Al Shorafa, chairman of Etihad Airways, said: “As we expand our network and enhance our offerings, we remain focused on connecting more people with Abu Dhabi and supporting the Emirate’s tourism ambitions, fulfilling our vision to be the airline that everyone wants to fly.”
commercial operations, Etihad’s cargo revenue also rose by 24 per cent compared to the prior year, aided by increased capacity in cargo-leg tonnes and improved yields in the second half of the year.
To support the mass expansions in global reach, customers, and general operations, Etihad hired more than 2,000 new employees and promoted more than 1,500 workers, mainly pilots and cabin crew.
Antonoaldo Neves, chief executive of Etihad Airways, said: “These results are testament to the dedication of our people who have worked together for a purpose, delivering our strategy. Their efforts have driven improvements in customer satisfaction measured across all cabin classes and numerous other touchpoints.”
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