Etihad Airways said Feb. 24 that 2025 brought the airline its strongest full-year financial performance on record, posting a net profit of $698 million, marking its fourth consecutive year of profitability.
The Abu Dhabi-based carrier reported total revenue of $8.4 billion, up 21% year-on-year, driven by expansion across both passenger and cargo operations.
Passenger revenue rose 24% to $7 billion, supported by increased capacity, strong demand, improved load factors and higher yields. Cargo revenue grew 8% to $1.2 billion, with volumes increasing 9% to more than 700,000 tons.
Growth in the passenger fleet also enhanced cargo performance through additional belly-hold capacity, reinforcing Etihad’s integrated passenger and cargo operating model. Supported by expanded capacity and its joint venture with SF Express, Etihad became the largest cargo operator between mainland China and the Middle East, operating more than 100 cargo services per month.
Operating performance also strengthened significantly. EBITDA increased 37% to $1.7 billion, producing a 20% margin. The airline’s net profit margin rose to 8.4%, more than double the global industry average of 3.9%, according to IATA’s December 2025 estimates.
Strong earnings generated nearly $2 billion in operating cash flow, allowing Etihad to fully fund its capital expenditure requirements while reducing debt.
CEO Antonoaldo Neves described 2025 as a “defining year” for the airline. “These results confirm that our strategy is working, growing sustainably, strengthening our financial position, and continuing to deliver a high-quality experience for our guests,” he said.
Fleet and network expansion played a central role in the airline’s growth. Etihad added 29 aircraft, including Airbus A321LRs, A350s, Boeing 787s and reactivated A380s, bringing its fleet to 127 aircraft.
Its network expanded from 94 to 110 destinations, with new routes launched to cities, including Addis Ababa, Atlanta, Hanoi, Hong Kong, Phnom Penh, Prague and Warsaw.
The airline carried 22.4 million passengers during the year, reflecting a 21% rise in capacity. Available seat kilometers (ASK) reached 111.5 billion, while passenger load factor improved to 88.3%, up 2% from 2024.
Etihad also said it accounted for roughly 50% of total passenger growth in the UAE in 2025.
Expansion continued with recruitment, with the airline hiring more than 3,200 employees during the year, including 1,600 cabin crew and nearly 400 pilots.
“With a stronger financial position, a growing fleet and a clear sense of purpose, we are well positioned to continue building on this momentum, giving flight to ambition for our guests, our people and to Abu Dhabi,” Neve said.
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