By Kavita Mistry 
Etihad Airways has reported a record profit after tax of AED 1.7 billion (USD 463 million) for the first nine months of 2025, reflecting continued strength across its core passenger and cargo businesses. The result marks a 26 per cent improvement on the same period last year and lifts the airline’s profit margin to 8 per cent, compared with 7 per cent a year earlier.
Group revenue for the period rose 18 per cent year-on-year to AED 21.7 billion (USD 5.9 billion), driven by enhanced network performance and ongoing demand across long-haul and regional markets. Passenger revenue increased by 20 per cent to AED 18.2 billion (USD 4.9 billion), supported by a 17 per cent rise in capacity and an 18 per cent increase in total passengers carried, reaching a record 16.1 million. Load factor averaged 88 per cent, up one percentage point year-on-year. Cargo revenue grew by 8 per cent to AED 3.2 billion (USD 875 million), supported by higher volumes and improved capacity availability.
Operational profitability also strengthened, with EBITDA rising 27 per cent year-on-year to AED 4.3 billion (USD 1.2 billion), resulting in an EBITDA margin of 20 per cent, up one percentage point. Cash generation remained strong: operating cash flow reached nearly AED 6 billion (more than USD 1.5 billion), an increase of more than 40 per cent year-on-year.
Etihad’s operating fleet expanded to 115 aircraft as of September 2025, marking a net increase of 19 aircraft over the previous year. Nine additions occurred during the third quarter alone, including A321LRs, Boeing 787s, Airbus A350s and one A320. The rapid fleet expansion allowed the carrier to increase frequency across key markets and introduce new destinations, contributing to an increase of more than 20 per cent in third-quarter Available Seat Kilometres (ASK).
Customer satisfaction reached its highest levels to date, supported by investments in product upgrades and the introduction of the A321LR fleet. The aircraft, which entered service on 1 August with an inaugural flight to Phuket, offers First suites, fully lie-flat Business seats in a 1-1 layout, and redesigned cabin interiors. These enhancements contributed to record Net Promoter Scores across all cabins, particularly in premium.
Commenting on the results, Antonoaldo Neves, Chief Executive Officer of Etihad Airways, said: “Etihad’s performance this year has set a new benchmark, outpacing the market and driving nearly half of the UAE’s total passenger growth. 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.”
The airline continued to scale its global footprint, with over 100 destinations served and 91 operated as of 30 September. New routes launched in the third quarter included Atlanta and Al Alamein, while additional destinations announced for 2025 and beyond include Salalah, Kazan and Krakow. In Europe alone, Etihad has added more than 500,000 seats this year, contributing to Abu Dhabi’s inbound traffic.
Operational efficiency improvements and brand initiatives continued throughout the period. Etihad received a Five-Star Global Airline rating for 2026 from the Airline Passenger Experience Association (APEX), reflecting ongoing investment in service delivery and product consistency. The airline also expanded its commercial partnerships, including a loyalty collaboration with Vietnam Airlines and an extended cargo partnership with Atlas Air.
Etihad’s workforce grew in line with network expansion. More than 2,600 employees were hired during the first nine months of 2025, including 200 pilots and 1,500 cabin crew. More than 1,500 internal promotions were confirmed during the same period, underscoring the scale of growth across the organisation.
