Abu Dhabi's Etihad Airways has posted its biggest nine-month profit, driven by an expanding fleet catering to the increasing travel demand in the UAE.
Net profit after tax in the nine months ended September 30 soared 26 per cent year-on-year to a record Dh1.7 billion ($463 million), Etihad said in a statement on Thursday.
Revenue grew 18 per cent annually to Dh21.7 billion, as passenger revenue jumped 20 per cent to Dh18.2 billion and cargo revenue added 8 per cent to Dh3.2 billion.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) – a key measure of profitability – leapt 27 per cent year-on-year to Dh4.3 billion.
“Etihad’s performance this year has set a new benchmark, outpacing the market and driving nearly half of the UAE’s total passenger growth,” said Antonoaldo Neves, chief executive of Etihad. “It's a clear validation of our strategy, the strength of our team and the appeal of Abu Dhabi as a world-class destination."
The airline's operating fleet grew 19 per cent annually to 115 aircraft at the end of September, which, Etihad said, is "one of the busiest delivery periods" in its history, dri
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