Etihad Airways announces US$394m operating result for 2023

Etihad Airways announces US$394m operating result for 2023

Carrier served 40% more passengers, rising from 10 to 14 million year-on-year

Etihad Airways has announced its results for 2023, recording a AED1.4 billion (US$394 million) operating result, driven by AED4 billion (US$1.1 billion) year-on-year growth in passenger revenue, marking a significant improvement in passenger business profitability.

The airline carried 14 million passengers last year, up 40% from the year before, underlining continued robust demand for travel across its growing network, with an overall load factor of 86%, compared to 82% in 2022. 

Total revenue reached AED20.3 billion (US$5.5 billion) in the year ended 31 December 2023, compared to AED18.3 billion (US$5 billion) in 2022.

Last year, the airline also launched 15 new destinations, including Lisbon, Copenhagen, Kolkata and Osaka, and grew its operating fleet by 14 aircraft, to support 30% growth in Available Seat Kilometres (ASKs).

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Etihad’s strong performance in 2023 follows a successful reorganisation of its business, sharpening its focus on the core airline offering by divesting from ancillary support services and businesses, restructuring the fleet to focus on the most efficient and advanced aircraft, streamlining and rationalising its destination network, and increasing productivity and cost savings.

Etihad's passenger widebody fleet comprises 78% new generation aircraft, one of the highest ratios in the industry, underscoring its dedication to operational efficiency and contributing significantly to its reduced emission targets.

Etihad Aviation Group chairman Mohammed Ali Al Shorafa said: “I am confident we will continue to build on this solid foundation as we grow our network, enhance our offering and connect even more people with Abu Dhabi as we support and promote the Emirate’s tourism ambitions, delivering our vision to be the airline that everyone wants to fly.”

The airline also saw an impressive rise in positive customer sentiment across 2023, buoyed by the opening of its new home, Abu Dhabi Zayed International Airport, at the end of the year. 

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