TSX higher on employment data
Investing.com -- Abu Dhabi’s Etihad Airways achieved its most profitable first half ever, with net profit reaching 1.12 billion UAE dirham ($304.96 million), a 32% increase year-on-year, the company announced Wednesday.
The airline transported 10.2 million passengers during the six months ending June 30, representing a 17% rise from the previous year. This growth occurred despite regional tensions affecting airlines across the Middle East, including the 12-day air war between Israel and Iran in June.
Mohamed Ali Al Shorafa, Chairman of Etihad Airways, credited the strong performance to the carrier’s international expansion strategy. Since January, the airline has launched or announced 27 new destinations and added 20 aircraft to its fleet over the past 18 months.
In related news, Chief Executive Antonoaldo Neves stated on Tuesday that while Etihad is prepared for an initial public offering, the airline has no immediate plans to go public. Neves confirmed that the carrier has sufficient resources to independently fund its $20 billion expansion strategy for the next decade.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.