Etihad Airways, which already grew substantially in 2024, continued to grow in 2025, and did so profitably.
The airline, based at Abu Dhabi Zayed International Airport (AUH), ended the year with a net profit of $698 million, up 47% year-on-year (YoY), with its profit margin improving by 1.5 percentage points.
Margin growth
In 2025, Etihad Airways improved its margin by 1.5 percentage points, while its earnings before interest, taxes, and depreciation (EBITDA) margin rose by 2.3 percentage points. Year-end revenues of $8.3 billion improved by 21% YoY.
While the airline’s financial report provided limited details, Etihad Airways highlighted that its “cost discipline resulted” in its rising profitability, with its margin of 8.4% being “more than double the industry average net profit margin of 3.9%, according to IATA’s December 2025 estimates.”
The strong 2025 result also translated into “robust cash generation, with cash flow from operations reaching almost” $2 billion, enabling the airline to fund its capital expenditure (CapEx) requirements for the year.
Double-digit capacity growth
Meanwhile, Etihad Airways’ capacity, measured in available seat kilometers (ASKs), grew by 21% YoY, while passenger numbers also climbed by 21% to 22.4 million. The carrier pointed out that during the year, it continued to expand its point-to-point and stopover traffic to AUH.
Point-to-point passenger numbers reached 5.5 million, up from 4.6 million in 2024, while the stopover program attracted over 170,000 visitors making stops in Abu Dhabi, compared to 80,000 a year prior.
“This growth further strengthens Etihad’s contribution to Abu Dhabi’s tourism sector, driving increased international arrivals and overnight stays through network expansion.”
Etihad Airways added that demand was “strong” across its network, with load factors rising to 88.3%, up 2 percentage points YoY.
Passenger-only revenue was $7 billion compared to $5.6 billion in 2024. Based on Etihad Airways’ published passenger revenue and ASKs, PRASK was approximately 6.3¢, around 3% higher than in 2024.
Largest-ever fleet
The carrier pointed out that its year-end operating fleet totaled 127 aircraft, after adding 29 aircraft during the year, which included Airbus A321LR, A350, A380, and Boeing 787 deliveries or reactivations.
As a result, the number of destinations increased to 110, compared to 94 in 2024.
“[…] Etihad also took important steps in 2025 to support its next phase of growth through major aircraft orders announced in May and November, enhancing its long-term fleet pipeline and providing greater flexibility to support future growth, network expansion, and product development.”
Rytis Beresnevicius
