INTERNEWSTINES.COM – Etihad Airways, the United Arab Emirates’ national airline, is poised for significant growth. The airline has announced a $7 billion investment plan over the next five years, aiming to double its fleet size by 2030. This ambitious expansion strategy is part of Etihad’s preparation for a public listing on the Abu Dhabi stock market.
Etihad’s CEO, Antonoaldo Neves, emphasized the importance of a public listing, stating that it would provide access to diverse capital sources to fuel future growth, even though the airline currently boasts a substantial capital reserve of $27 billion.
Etihad, based in Abu Dhabi, is owned by the Abu Dhabi Developmental Holding Company (ADQ), a sovereign wealth fund. ADQ also controls other aviation entities, including Abu Dhabi Airports and Wizz Air Abu Dhabi.
While Neves did not reveal a specific timeline for the initial public offering (IPO), he confirmed that Etihad is actively preparing for the listing, awaiting the green light from its shareholder, ADQ.
Neves highlighted the airline’s commitment to adapting to the competitive aviation landscape. Etihad is focusing on expanding its network, modernizing its fleet, and enhancing transparency, governance, and its financial position.
To boost profitability, Etihad is prioritizing margin growth, operational efficiency, and customer experience. The airline plans to reintroduce the Airbus A380 and Boeing 777 aircraft, with the latter’s retrofitting scheduled for 2026.
By the end of the decade, Etihad aims to increase its fleet from 92 to 170 aircraft and launch eight to ten new destinations annually. The airline recently reported a significant increase in passenger numbers, carrying 17 million passengers in the year ending August 2024, a nearly 70% jump from the previous year.
Neves expressed confidence in Etihad’s growth trajectory, projecting year-on-year growth of 35% to 40%. He envisions a transformed airline by 2026-2027, ready to compete on a global scale. (Red)
