Etihad Airways posts record AED 2.6bn profit in 2025 as fleet and network expansion drive historic growth

Etihad Airways reported its strongest financial and operational performance to date in 2025, delivering a record profit after tax of AED 2.6 billion (US$698 million), up 47% year-on-year, and marking its fourth consecutive year of profitability.

Total revenue rose 21% to AED 30.7 billion (US$8.4 billion), driven by robust passenger and cargo performance. Passenger revenue increased 24% to AED 25.8 billion, supported by a 21% rise in capacity and a 21% increase in passenger numbers to 22.4 million. Load factor improved to 88.3%. Cargo revenue grew 8% to AED 4.5 billion, with volumes up 9% to over 700,000 tonnes, making Etihad the largest cargo operator between mainland China and the Middle East, supported by its joint venture with SF Express.

Operating performance strengthened significantly, with EBITDA rising 37% to AED 6.3 billion and margin improving to 20%. Profit margin reached 8.4%, more than double the global airline industry average of 3.9% estimated by the International Air Transport Association. Operating cash flow approached AED 8 billion, fully funding capital expenditure and enabling further deleveraging. In December 2025, Fitch Ratings upgraded Etihad to AA-, the highest publicly available rating among global airline peers.

Fleet expansion underpinned growth, with 29 aircraft added during the year, bringing the total operating fleet to a record 127 aircraft. The network expanded from 94 to 110 destinations, including new routes such as Atlanta, Prague, Warsaw, Addis Ababa, Phnom Penh, Hanoi and Hong Kong. ASK increased 21% to 111.5 billion.

Etihad also strengthened Abu Dhabi’s tourism and connectivity, with point-to-point traffic rising to 5.5 million passengers and stopover visitors more than doubling to 170,000. The airline accounted for approximately 50% of total passenger growth in the UAE during 2025.

Customer satisfaction reached record levels following product upgrades, including the rollout of the A321LR with lie-flat seating, enhanced premium services and digital platform improvements. The airline won more than 25 international awards and was ranked among the world’s safest full-service carriers in early 2026.

With a stronger balance sheet, expanded fleet pipeline and continued investment in customer experience and workforce growth, Etihad enters 2026 positioned for sustained expansion.