Etihad Airways reported a sharp increase in first-quarter profit on Thursday, helped by an increase in passenger revenue, ahead of possible listing of the Abu Dhabi carrier.
Revenue rose 21% to 5,739 million dirhams for the January-March quarter helped by a 41% rise in passenger numbers to 4.2 million © Mena Today
Etihad Airways reported a sharp increase in first-quarter profit on Thursday, helped by an increase in passenger revenue, ahead of possible listing of the Abu Dhabi carrier.
The airline, which over the past seven years has gone through a massive restructuring, including overhauling its management, reported a profit after tax of 526 million dirhams ($143 million), up from 59 million a year earlier.
Revenue rose 21% to 5,739 million dirhams for the January-March quarter helped by a 41% rise in passenger numbers to 4.2 million.
CEO Antonoaldo Neves told Reuters in March the state-owned airline was improving transparency, governance and its balance sheet to be ready for an public listing should its Abu Dhabi sovereign wealth fund owner, ADQ, decide to list it.
Bloomberg has reported ADQ, which took over Etihad in October 2022 and appointed Neves as its CEO, is considering an IPO for the airline as early as this year.
($1 = 3.6728 UAE dirham)
Reporting by Gulf bureau
Human Rights Watch has accused an Abu Dhabi-based security company of recruiting Colombian private military contractors and deploying them to fight alongside Sudan's Rapid Support Forces (RSF) between 2024 and 2025, adding to what the rights group describes as a growing body of evidence of Emirati military support for the paramilitary group.
The Abu Dhabi Fund for Development (ADFD) is making significant strides across three infrastructure projects in Africa, with road rehabilitation programmes in Togo, Madagascar and Nigeria progressing at pace.
In the middle of a regional war, drone attacks, Hezbollah threats and grinding geopolitical uncertainty, Israel's shekel is doing something unexpected: it is surging. And that is becoming a serious problem.
To make this website run properly and to improve your experience, we use cookies. For more detailed information, please check our Cookie Policy.
Necessary cookies enable core functionality. The website cannot function properly without these cookies, and can only be disabled by changing your browser preferences.