Etihad flies 8.7 million passengers in first half of the year amid soaring travel demand

Etihad Airways transported 8.7 million passengers in the first six months of 2024, a 38 per cent increase compared to the same period last year, as the airline continues to expand its route network amid soaring demand for air travel.

The Abu Dhabi-based airline’s passenger load factor – a measure of how well an airline fills available seats – was at 85 per cent during the first half of the year, according to a statement on Friday.

The airline carried 1.5 million passengers in June, an annual increase of 34 per cent, and had a load factor of 86 per cent, it said.

“As of June 2024, our rolling 12-month passenger tally stands at 16.4 million,” said Antonoaldo Neves, chief executive of Etihad Airways.

“Our passenger load factor is healthy at 85 per cent for the year, even though we have seen significant capacity expansion compared to 2023.”

Etihad Airways recorded an almost nine-fold increase in first-quarter after-tax profit to Dh526 million ($143 million) on higher passenger revenue and lower financing costs.

Total revenue rose about 21 per cent year-on-year to Dh5.7 billion in the first quarter, driven mainly by a 25 per cent increase in passenger revenue.

Passenger traffic grew 41 per cent year-on-year to 4.2 million as the carrier expanded its network to destinations including Thiruvananthapuram, Kozhikode and Boston.

Etihad aims to triple passenger numbers to 33 million and double its fleet to 150 planes by the end of the decade.

Etihad Airways makes its inaugural flight to Bali

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To support its growth plans, the airline is set to embark on an international roadshow to hire hundreds of pilots over the next 18 months, it said last month.

The Abu Dhabi airline will take its recruitment drive to eight European countries, including Cyprus, Bulgaria, Albania, Romania, Hungary and Poland, before expanding its search globally in the coming months.

“Our operating fleet has grown to 92 aircraft, up from 76 at June 2023, and we are flying to 10 more passenger destinations than at the same point last year,” Mr Neves said.

In June, Etihad expanded its network by launching eight additional locations including Bali, Jaipur and Al Qassim and seasonal destinations including Nice, Antalya, Mykonos, Santorini and Malaga.

In March, Etihad said it was preparing for a potential listing – a first for a major Gulf airline – as it pursues an ambitious growth strategy between now and 2030.

However, any decision about a possible listing would be made by the airline's owner, Abu Dhabi holding company ADQ, Etihad said at the time.