UAE’s national carrier, Etihad Airways, has debunked claims circulating on social media that falsely suggest the airline is planning a public share listing on the Dubai Financial Market. In a statement to Khaleej Times on Thursday, the Abu Dhabi-based carrier emphasized that these misleading posts, which promote an investment mechanism using the airline’s branding without any official connection, are entirely speculative. Etihad has reported these deceptive posts to the relevant UAE authorities and social media platforms.
Simultaneously, the Securities and Commodities Authority (SCA) cautioned residents against engaging with fraudulent investment entities, noting similar fake ads on social media encouraging subscriptions in Etihad Airways shares. The SCA and Etihad jointly advised investors to avoid these fictitious advertisements and to rely solely on official information sources, verifying entity identities before any financial dealings.
Despite these warnings, Etihad Airways CEO Antonoaldo Neves hinted at an IPO in March, stating that airlines going public is not unusual, especially given the capital-intensive nature of the industry. This comment followed Etihad’s impressive performance in 2023, with projections of continued success in 2024. Etihad reported a 11% increase in total revenue, reaching Dh20.3 billion, with a Dh1.4 billion operating result and Dh525 million in net profit. The airline also saw a significant increase in passenger revenue, reaching Dh16.7 billion.
In the first quarter of 2024, Etihad recorded a Dh526 million profit after tax, a substantial increase from Dh59 million in the same period in 2023. This growth was supported by expanded network capacity and increased passenger numbers. Additionally, Etihad expanded its network in June by launching services to eight new destinations, including Bali, Jaipur, and Al Qassim, along with seasonal destinations like Nice, Antalya, Mykonos, Santorini, and Malaga.
