Etihad Airways has announced profit after tax reached AED685m ($187m) in the first quarter of 2025.
It marks a 30 per cent increase year-on-year, driven by robust passenger demand and operational efficiencies.
Total revenue saw a 15 per cent rise compared to Q1 2024, supported by both passenger and cargo business.
Etihad Q1 performance
Etihad continues to lead the region in passenger growth, carrying 5m guests in Q1 2025, a 16 per cent year-on-year increase, and maintaining strong momentum into Q2.
With nearly 20m passengers carried over the past 12 months, Etihad is the fastest-growing airline in the region and customer satisfaction reached a record high in Q1 2025, with scores improving by 20 percent year-on-year.
Antonoaldo Neves, Chief Executive Officer of Etihad Airways, said: “We are proud to deliver a record-breaking quarter – both in profitability and in guest satisfaction. Achieving our highest-ever Q1 profit of AED685m and our best-ever customer satisfaction scores reflects the strength of our business and the dedication of our people.
“We’re executing a clear strategy: grow sustainably, operate efficiently, and never lose focus on delivering remarkable experiences to our guests. From continued refinements to our onboard offering to improved airport services and the debut of our A321LR with a market-leading narrowbody product, we’re raising the bar in every part of the journey”.
He added that the network continues to expand with 16 new routes announced for 2025 and additional aircraft joining Etihad Airways fleet.
Passenger revenue grew by 16 per cent, reaching AED5.5 bn ($1.5 bn), driven by increased capacity, continued network expansion and increased flight frequencies.
Passenger growth was boosted by a 14 percent rise year-on-year in Available Seat Kilometres (ASK) and an improved passenger load factor of 87 percent (+1 pp year-on-year).
Fleet expansion accelerated, with 98 aircraft in operation by the end of the quarter, including the reintroduction of Etihad’s sixth A380. The operating fleet further grew in the month of April with the delivery of an additional A350-1000.
Etihad operated 80 destinations as of March 2025, with 16 new routes launching this year to support continued growth and broaden access to key global markets.
Improved cargo yield led to cargo revenue growth of 8 percent year-on-year, despite a 4 percent reduction in volumes.
The strong operational performance is reflected in the EBITDA, which rose by 32 per cent year-on-year, reaching AED1.4bn ($379m), boosting the EBITDA margin to 21 percent (+3 pp compared to the same period of 2024).
Further strengthening financial resilience, net leverage improved to 1.1x, down from 1.9x in March 2024, driven by scheduled debt repayments and strong cash generation.
Cash flow from operations reached AED1.8bn ($500m), reflecting an 11 per cent increase year-on-year.
