Etihad in numbers: AED 2.6bn profit, 22.4m passengers and a AED 80bn ten-year plan
Editorial
Etihad made a record AED 2.6 billion profit after tax in 2025, up 47%, as it carried 22.4 million passengers and filled 88.3% of its seats.
Source: The National on Etihad's 2025 results, 24 February 2026.
Where the revenue comes from
- Passenger: AED 25.8bn (84%)
- Cargo: AED 4.5bn (15%)
- Other (our calculation): AED 0.4bn (1%)
Shares are our calculation from the reported figures.
| Measure | 2025 | Note |
|---|---|---|
| Operating cash flow | About AED 8bn | Fully funded the year's capital spending |
| Investment in aircraft in 2025 | Four times 2024 | Per the CEO |
| Share of tickets sold in the region | About 40% | The other 60% are sold outside it |
| Planned investment, next 10 years | AED 80bn ($21.8bn) | New aircraft and product improvements |
| First half 2025 for comparison | AED 1.1bn profit, +32%; 10.2m passengers; 87% load factor | Etihad release |
What changed at the top and in ownership
Antonoaldo Neves has been group CEO since October 2022. He said the airline is doubling its bet on premium cabins and the customer experience, and that 2026 would be a big year for investment in the onboard experience: amenity kits, food and beverage and a global chauffeur service. He said M&A is not part of the strategy and spare cash goes into organic growth.
In January 2026 Abu Dhabi moved the assets of the sovereign fund ADQ into a new vehicle, L'imad Holding, and Etihad now sits in that portfolio. Asked about a stock market listing, Neves said it is a shareholder decision and that for the airline it is business as usual.
- Oct 2022 Antonoaldo Neves becomes group CEO after the transfer to ADQ.
- H1 2025 Record half-year profit of AED 1.1bn.
- Jan 2026 Etihad moves into the L'imad Holding portfolio.
- 24 Feb 2026 Full-year results: AED 2.6bn profit and the AED 80bn ten-year plan.