Etihad Airways has continued its record-setting performance, achieving its strongest nine-month results in history and sustaining growth across all core business areas. The performance highlights the airline’s growth, rising customer satisfaction, and continued efficiency improvements.
Profit after tax reached AED 1.7 billion (U.S.$ 463 million) for the first nine months of 2025, up 26 per cent compared to the same period last year, lifting the airline’s profit margin to 8 per cent, compared to 7 per cent for the same period last year.
Total revenue rose 18 per cent year-on-year to AED 21.7 billion (U.S.$ 5.9 billion), supported by strong performance across both passenger and cargo segments. Passenger revenue increased 20 per cent year-on-year to AED 18.2 billion (U.S.$ 4.9 billion), reflecting the airline’s increased capacity and enhanced network. Cargo revenue grew 8 per cent to AED 3.2 billion (U.S.$ 875 million), driven by improved capacity and higher volumes (+6 per cent year-on-year).
Operating performance remained robust, with EBITDA increasing 27 per cent year-on-year to AED 4.3 billion (U.S.$ 1.2 billion), translating to an improved EBITDA margin of 20 per cent, +1pp compared to the same period last year. Strong cash generation continued, with operating cash flow reaching nearly AED 6 billion (more than U.S.$ 1.5 billion), an increase of more than 40 per cent compared to last year.
Etihad carried 16.1 million passengers in the first nine months of 2025 – the highest ever in its history – an 18 per cent increase year-on-year, supported by a 17 per cent rise in capacity and a higher load factor of 88 per cent (+1pp year-on-year).
Customer satisfaction continued to rise throughout 2025, with Net Promoter Scores (NPS) improving across all cabins and reaching record levels in premium. The new A321LR fleet has been particularly well received by guests, setting a new benchmark for comfort and service on narrow-body aircraft.
“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 Officer of Etihad Airways. “It’s a clear validation of our strategy, the strength of our team, and the appeal of Abu Dhabi as a world-class destination. We’re expanding, elevating the guest experience, and maintaining our focus on efficiency and performance.
“I want to thank every member of our team for their contribution to these results, and our guests for their continued support. Their trust and enthusiasm inspire us to deliver extraordinary experiences every day.”
Etihad’s operating fleet reached 115 aircraft at the end of September 2025, an increase of 19 year-on-year, marking one of the busiest delivery periods in the airline’s history. During the third quarter, Etihad added nine aircraft – its first Airbus A321LR in July, followed by two more A321LRs, three Boeing 787s, two Airbus A350s and one A320 – driving a more than 20 per cent increase year-on-year in Available Seat Kilometres (ASK) for the quarter. At the start of July, the airline also reached a major milestone, carrying 20 million passengers on a rolling 12-month basis for the first time in its history.
The new A321LR fleet entered service on 1 August 2025 with its inaugural flight to Phuket, bringing wide-body luxury to narrow-body operations for the first time in the region. The aircraft features private First suites, fully lie-flat Business in a 1-1 configuration, and enhanced design across all cabins, setting a new standard for comfort and service on single-aisle routes.
Etihad’s expanding fleet enabled it to continue building network scale and connectivity, operating close to 300 passenger flights per day, while the network comprised over 100 destinations, of which 91 were operated as of 30 September. In the third quarter, the airline launched inaugural flights to Atlanta and Al Alamein, and announced new destinations to Salalah, Kazan, and Krakow, further strengthening its reach across the Middle East, Europe, and Central Asia. In Europe alone, Etihad has added more than 500,000 seats in 2025, reinforcing its role in supporting Abu Dhabi’s inbound tourism growth. In total, 31 new destinations have been launched or announced over the last 12 months, underscoring Etihad’s commitment to making Abu Dhabi one of the most connected cities in the world.
Etihad continued to improve operational efficiency, while enhancing the guest experience. Customer satisfaction also reached record levels in 2025, reflecting continued investment in product, service and innovation. The airline was named a Five-Star Global Airline for 2026 by the Airline Passenger Experience Association (APEX), recognising its commitment to service excellence and innovation.
During the period, Etihad also strengthened its partnerships and brand presence, including the launch of loyalty partnerships with Vietnam Airlines and an expanded cargo partnership with Atlas Air.
Etihad’s continued performance is driven by the dedication of its people. In the first nine months of 2025, the airline added more than 2,600 new employees, including over 200 pilots and 1,500 cabin crew, reflecting the pace of growth across its network and fleet. Over the same period, over 1,500 employees were promoted, recognising strong performance and leadership across the organisation.
Highlights
- Profit after tax reached AED 1.7 billion (U.S.$ 463 million), up 26 per cent year-on-year with profit margin at 8 per cent
- Total revenue grew by 18 per cent year-on-year to AED 21.7 billion (U.S.$ 5.9 billion), driven by both passenger and cargo business
- Passenger revenue rose 20 per cent, reaching AED 18.2 billion (U.S.$ 4.9 billion) supported by increased capacity, network enhancement and strong demand
- Cargo revenue rose by 8 per cent, reaching AED 3.2 billion (U.S.$ 875 million) driven by increased capacity and volumes
- Strong revenue performance and operational efficiency boosted the EBITDA by 27 per cent year-on-year to AED 4.3 billion (U.S.$ 1.2 billion), lifting EBITDA margin to 20 per cent (+1pp year-on-year)
- Strong operating performance confirmed by remarkable cash flow generation, with cash flow from operation reaching almost AED 6 billion (more than U.S.$ 1.5 billion), marking an increase of more than 40 per cent year-on-year
- Customer satisfaction continues to improve across all cabins, particularly in premium cabins following the introduction of the new A321LR fleet
- Capacity and volumes continue to expand with ASK growing by 17 per cent year-on-year and passengers carried by 18 per cent per cent year-on-year (reached 16.1 million in the first nine months of 2025), with passenger load factor at 88 per cent (+1pp year-on-year)
- Fleet expansion drove operating fleet to 115 aircraft as of September 2025, +19 aircraft compared to the same period last year, with approximately half of the year-on-year fleet growth coming from Q3’25 deliveries, including new A321LR, A350 and B787 deliveries
