Etihad Airways plans IPO for 2025 as part of 'Flight 2030' strategy
Date
9/12/2024 4:55:53 AM
(MENAFN) Etihad Airways, the Abu Dhabi-based airline owned by ADQ, is set to proceed with an initial public offering (IPO) in 2025, according to two well-informed sources. This move marks the first potential IPO of a major Gulf airline. Although there had been speculation about a possible listing within this year, the company is now focusing on showcasing its strong financial performance for 2024 before going public. An Etihad spokesperson declined to comment on these rumors, maintaining the company’s policy of not discussing speculation.
Under the leadership of its new CEO, Antonaldo Neves, and following a recent management restructuring, Etihad Airways has been expanding its operations. The airline’s “Journey 2030” strategy aims to solidify Abu Dhabi’s position as a central travel hub connecting Asia with Europe. This strategy includes increasing the number of destinations to over 125 by 2030, up from the current count of more than 70, and expanding its fleet from approximately 90 aircraft to over 160. Additionally, Abu Dhabi's Zayed International Airport, which saw the opening of a new passenger terminal last year, now has an annual capacity of 45 million passengers.
In recent financial performance highlights, Etihad Airways reported a 48% increase in first-half profits after tax, alongside a 38% rise in passenger numbers to 8.7 million. The airline has also achieved full-year net profits in both 2022 and 2023. The anticipated IPO is expected to align with a broader trend of initial public offerings in the region, reflecting a growing interest in Gulf-based investments.
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