Catenaa, Wednesday, February 26, 2025– Abu Dhabi’s Etihad Airways is planning to announce the launch of a $ 1 billion initial public offering this week, a report by Reuters said on Tuesday, after the airways announced the highest-ever profit last week.
Quoting two sources Reuters reported the airline plans to offer 20% of the business by selling new shares to fund its growth ambitions.
Etihad, which is owned by Abu Dhabi’s $ 225 billion wealth fund ADQ, and if it goes public it would be the first IPO of a major Gulf airline in nearly two years.
Last week, Etihad Airways announced its “highest-ever” annual profit, $ 476 million for 2024, and improved other financial parameters.
The company saw a 32% rise in passenger numbers, from 14 million in 2023 to 18.5 million in 2024. It recorded revenue of $ 6.8 billion, up from $ 5.5 billion the previous year, and EBITDA soared 32% year-on-year to $ 1.3 billion. The passenger load factor reached 87%.
Other airlines in the region may also soon change their respective ownership structures, according to Reuters. Saudi Arabia’s Flynas could be listed on the market in 2025, while Qatar Airways is reportedly mulling a listing by the end of the decade.
Last September, Etihad’s Chief Executive Officer Antonoaldo Neves said that the airline is planning to invest $7 billion over the next five years and to double the size of its fleet by 2030.
