Etihad Airways sees 2025 profits surpassing Dh1.7 billion, to announce H1 results soon
The company maintained its record profit growth this year, reaching Dh685 million in the first quarter of 2025, an increase of 30 per cent year-on-year.
'We already revealed second-quarter results to our board. So the first half numbers are good. We keep generating cash. The airline is doing well, and forward bookings are looking good. We're confident as a lot of new aircraft will arrive by the end of the year,' Neves said.
'In terms of profitability, we don't give guidance, but we expect it to be better than last year,' he said in reply to expectations about this year's profits.
'We're excited and confident. But this is an industry that is very volatile. So we need to be really paying attention to everything. It's only over when it's over.'
In terms of passengers, Neves said Etihad Airways is expected to reach 20 million passengers this year. Last year, it carried 17.5 million. 'We're probably going to end up at 21.5 million,' he said.
The UAE national airline carried 5 million passengers during the first quarter, with load factor improving to 87 per cent.
Record profits
Many UAE airlines have been reporting record profits on the back of strong growth in the travel and tourism sector.
In May, the UAE flag carrier Emirates hit a new record profit after tax of Dh19.1 billion, outstripping last year's Dh17.2 billion. This was the best performance in the airline's history and the airline industry for the reporting year 2024-25.
Similarly, flydubai announced record-breaking annual results for its financial year ending December 21, 2024. The Dubai-based carrier marks its strongest-ever financial performance in its 15-year history, reporting a pre-tax profit of Dh2.5 billion, a 16 per cent growth compared to the previous financial year with a total revenue of Dh12.8 billion ($3.5 billion), marking an increase of 15% compared to Dh11.2 billion ($3 billion) in 2023. The new milestone was driven by the strength of flydubai's diverse network as well as its strong and agile business model.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Business
26 minutes ago
- Gulf Business
Here's why WeRide, Uber expect Abu Dhabi's ride volume to double
Image: Supplied Autonomous driving technology firm The partnership with the Integrated Transport Centre (ITC) now enables Robotaxi service coverage across nearly half of Abu Dhabi's core urban areas, including Yas Island, Saadiyat Island, and highway corridors to and from Zayed International Airport. Since their joint launch in Abu Dhabi in December 2024, WeRide and Uber have tripled their 'Robotaxi' fleet. The companies plan to scale to hundreds of vehicles in the emirate by year-end, with service expansions slated for Khalifa City, Masdar City, and other high-density downtown zones. 'Al Reem and Al Maryah Islands are high-demand areas and serve as key gateways to Abu Dhabi,' said Jennifer Li, CFO and head of International at WeRide. 'This expansion gives us the opportunity to reach more passengers, showcase our advanced technology in complex urban settings, and further accelerate the deployment of autonomous vehicles across the city.' Read: WeRide fleet highlights The Robotaxi fleet features WeRide's GXR model, a mass-produced autonomous vehicle designed for commercial deployment, accommodating up to five passengers. Each vehicle is expected to complete dozens of trips daily over a 12-hour operating window, with average ride distances exceeding six kilometres. The expansion builds on Abu Dhabi's broader strategy to integrate sustainable and intelligent transport solutions into its mobility infrastructure. 'This expansion marks an important milestone in Abu Dhabi's journey towards realising its vision for a smarter and safer mobility system,' said Dr Abdulla Hamad AlGhfeli, acting DG of the ITC. 'We are committed to embracing innovative and sustainable solutions to enhance our transport network and improve the quality of life for our residents.' Passengers can now access the expanded Robotaxi service via the Uber and TXAI mobile apps. The targeted districts, Al Reem and Al Maryah, are among Abu Dhabi's most dynamic hubs, with a high concentration of financial institutions, residential towers, and retail destinations, making them ideal testbeds for urban AV deployment. 'We're pleased to expand our autonomous vehicle service in Abu Dhabi in partnership with WeRide and with the support of the Abu Dhabi Mobility,' said Mohamad Jardaneh, head of Autonomous Mobility, Middle East at Uber. 'Just as Uber helped millions experience electric vehicles for the first time, 2025 will be the year we bring AV technology into the mainstream.' The companies are also conducting fully driverless testing in Abu Dhabi, with public access expected in the coming months. WeRide operates the largest Robotaxi network in the Middle East and is the first publicly traded autonomous mobility company. Its vehicles have been tested or deployed in over 30 cities across 10 countries and hold AV permits in six global markets, including the UAE, US, China, France, Saudi Arabia, and Singapore.
Economy ME
26 minutes ago
- Economy ME
GMG, Amazon partner to expand innovative digital retail experiences for MENA customers
Global well-being and retail conglomerate GMG announced on Wednesday a landmark partnership with Amazon to transform the online shopping experience for customers across the MENA region. This partnership aims to provide customers with incredible prices and deals across a wide selection from GMG's key categories, including Sports, Health & Beauty and Everyday Goods. 'This partnership with Amazon represents a pivotal chapter in our digital commerce strategy. As consumer behaviors evolve, we are committed to delivering exceptional experiences driven by technology, speed and relevance,' said Mohammad A. Baker, deputy chairman and CEO of GMG. GMG accelerates omnichannel strategy with Amazon support As part of the collaboration, GMG and Amazon will enable faster delivery of high-demand products across grocery, lifestyle and wellness categories. The partnership will expand access to globally recognized and trusted brands from the GMG portfolio, catering to rising demand for fast, convenient and quality-focused services – all through the trusted Amazon shopping experience customers have come to know and love. 'With the Middle East's e-commerce market projected to reach $50 billion by 2025 , this collaboration is timely and strategic. Together, we will establish an unparalleled e-commerce experience that embodies the dynamism and ambition of the retail sector in the Middle East,' added Baker. Over the course of this agreement, GMG will accelerate its omnichannel strategy by harnessing Amazon's best practices in Artificial Intelligence (AI), logistics and customer service technology. This move supports GMG's vision of combining its strong physical retail presence with seamless digital experiences to shape the future of retail in the region. Read: IMF raises global growth forecast to 3 percent for 2025, 3.1 percent for 2026 Partnership supports building dynamic online retail landscape For its part, Amazon continues to elevate the customer offering across the region through expanded product selection and convenient delivery options as fast as same-day, all backed by a reliable shopping experience. With a diversified retail footprint and a growing digital presence, GMG's partnership with Amazon in the region signals a shared vision to further build a dynamic online retail landscape that delivers speed, convenience and quality at scale. 'By combining Amazon's online retail expertise with GMG's diverse portfolio, we are making it easier for customers across the region to access the brands and products they love. Together with GMG, we look forward to delighting millions of customers across MENA with this exciting new offering,' said Ronaldo Mouchawar, vice president, Amazon Middle East, Africa, and Turkey. GMG's latest expansion builds on the strength of its diversified business divisions. GMG Sports operates over 650 stores and represents more than 90 brands, including its own home-grown concepts. GMG Everyday Goods manages six retail concepts, with over 60 stores, some of the most popular exclusively distributed brands, and 10 proprietary brands. Meanwhile, GMG Health & Beauty oversees more than 105 stores, featuring some of the best distributed brands in the well-being sector and four of its own concepts. This agreement underscores GMG's broader mission to inspire healthier and more active global communities through innovation, accessibility and purpose-driven partnerships.
Tahawul Tech
26 minutes ago
- Tahawul Tech
north africa Archives
In order to be maximally effective, it remains important for businesses to optimise IT, so that employees have to spend less time on IT processes that are not part of their core tasks, says Taj El-Khayat, regional director, Citrix for Middle East and North Africa (MENA)
