Etihad Reports Record Half-Year Profit and Highest-Ever Passenger Numbers

Profit after tax rose 32 per cent to AED 1.1 billion (£228m), while EBITDA margin reached 20 per cent on the back of strong operating performance and efficiency gains.

Consistently strong customer satisfaction ratings maintained across the different touchpoints.

Passenger numbers rose 17 per cent to 10.2 million in H1 2025, with passenger load factor improving to 87 per cent (+2pp year-on-year). Reached 20 million passengers carried on a 12-month rolling basis in early July.

Operating fleet surpassed 100 aircraft, with over 20 additional aircraft in the last 18 months.

Etihad Airways has reported its strongest-ever half-year performance, delivering record profitability and passenger numbers in the first six months of 2025. The results showcase continued momentum in network expansion, operational efficiency, and enhanced customer experience.

Profit after tax reached AED 1.1 billion (£228 million), a 32 per cent increase compared to the same period last year. This growth was driven by vigorous customer demand, productivity and efficiency gains, and improved yields across both passenger and cargo segments. Total revenue rose by 16 per cent year-on-year, driven by both passenger and cargo revenue (16 per cent and 9 per cent growth respectively).

Financial performance remained solid, with EBITDA rising 24 per cent year-on-year to AED 2.7 billion (£551 million), and the EBITDA margin improving to 20 per cent (+1pp year-on-year).

Etihad carried 10.2 million passengers in H1 2025, a 17 per cent year-on-year increase, supported by a 14 per cent rise in Available Seat Kilometres (ASK) and an improved passenger load factor of 87 per cent, +2pp year-on-year. In early July, the airline passed the milestone of 20 million passengers carried over the past 12 months, doubling the 10 million passengers carried in 2022 and reinforcing its position as the fastest-growing carrier in the region.

The operating fleet exceeded 100 aircraft, including the delivery of Etihad’s sixth Airbus A350 in April and the reintroduction of a seventh A380 in May. In the same month the airline announced an agreement for an order for 28 wide-body aircraft with Boeing, reinforcing Etihad’s long-term growth and connectivity ambitions. In July 2025, the airline added five new aircraft to its fleet, including its first A321LR. This marked the highest number of deliveries the airline has ever received in a single month.

In April 2025, Etihad launched its new A321LR product, bringing wide-body luxury to narrow-body operations for the first time in the region. The aircraft entered into service in early August with its inaugural flight to Phuket, offering First Class suites and lie-flat Business seats on medium-haul routes.

This expansion enables Etihad to serve almost 90 destinations as of June 2025, including year-round and seasonal services. Committed to positioning Abu Dhabi as one of the most accessible cities globally, Etihad has launched or announced 27 new destinations in 2025 alone, bringing millions of visitors directly to Abu Dhabi and beyond.

His Excellency Mohamed Ali Al Shorafa, Chairman of Etihad Airways, said: “With 27 new destinations launched or announced this year alone, Etihad is proud to help position Abu Dhabi as one of the most accessible and connected cities in the world. This growth not only strengthens point-to-point and stopover opportunities but also enhances Abu Dhabi’s role as a gateway for millions of global travellers.”

Customer satisfaction continued to improve, with gains recorded across airport services, customer experience, and digital platforms. The airline maintained stable unit costs while enhancing service quality, reflecting its commitment to delivering value and excellence to its customers and its shareholder. Etihad’s First Class Net Promoter Score (NPS) has remained consistently at 80, the highest-ever achieved by the airline, and a best in class performance.

“We are proud to deliver another record half-year for Etihad,” said Antonoaldo Neves, Chief Executive Officer of Etihad Airways. “Our strong financial performance and continued passenger growth demonstrate the success of our strategy and the dedication of our people. We are expanding sustainably, investing in premium experiences, and bringing record numbers of visitors to Abu Dhabi through our growing network.

“We are already ahead of the growth levels we set in our strategy, we remain focused on execution, and are committed to expansion built on efficiency, service, and innovation. With new aircraft joining the fleet, new routes opening, and our premium offering flourishing, Etihad is setting new standards in aviation. None of this would be possible without the passion and professionalism of our employees, and I want to thank them for their outstanding contribution.”

Etihad’s record performance has been powered by its people. In the first half of 2025, the airline welcomed over 1,700 new hires, including more than 100 pilots and 1,000 cabin crew. Internal career growth was equally strong, with over 1,100 promotions across the business. Employee engagement reached its highest-ever level, reflecting the commitment, professionalism, and passion of Etihad’s team.

“Finally, I want to thank our customers. We look forward to welcoming even more of you onboard in the months ahead,” Neves said.

Highlights

• Profit after tax reached AED 1.1 billion (3228 million), up 32 per cent year-on-year, with profit margin at 8 per cent (+1pp year-on-year)
• Total revenue grew 16 per cent year-on-year, reaching AED 13.5 billion (£2.7 billion), driven by both passenger and cargo business
• Passenger revenue reached AED 11.3 billion (£2 billion), supported by network expansion and passenger demand momentum
• Cargo revenue rose 9 per cent year-on-year, driven by mild increases in both capacity and yield
• Strong revenue and productivity and efficiency gains boosted EBITDA by 24 per cent year-on-year to AED 2.7 billion (£552 million), with EBITDA margin at 20 per cent (+1pp year-on-year)
• Strong cash generation, with operating cash flow reaching almost AED 4.0 billion (more than U.S.$ 1 billion), an increase of 27 per cent year-on-year
• Customer satisfaction improved year-on-year, supported by enhancements to the onboard experience, airport services, and digital platforms
• Capacity continued to expand, with ASK growing by 14 per cent year-on-year due to additional aircraft and higher utilisation
• Carried 10.2 million passengers, a 17 per cent increase year-on-year, with passenger load factor improving to 87 per cent (+2pp year-on-year)
• Strong network with almost 90 destinations operated as of June 2025, and almost 30 new routes launched or announced so far in the last 12 months, including year-round and seasonal services