(Reuters) -Abu Dhabi's Etihad Airways first half was its most profitable yet, the company said Wednesday, as its net profit reached 1.12 billion UAE dirham ($304.96 million), up 32% year-on-year.
Etihad Airways Reports Record First-Half Profit Amid Expansion
Etihad Airways' Financial Performance
(Reuters) -Abu Dhabi's Etihad Airways first half was its most profitable yet, the company said Wednesday, as its net profit reached 1.12 billion UAE dirham ($304.96 million), up 32% year-on-year.
Passenger Growth and Expansion
Etihad carried 10.2 million passengers in the six months ending June 30, a 17% increase from the previous year, even as regional tensions - including June's 12-day air war between Israel and Iran - affected airlines across the Middle East.
Future IPO Plans
Chairman Mohamed Ali Al Shorafa attributed the airline’s growth to its international expansion, which included the launch or announcement of 27 new destinations since January and the addition of 20 aircraft over the last 18 months.
On Tuesday, chief executive Antonoaldo Neves told Reuters that the carrier was ready for an initial public offering, but had no immediate plans to go public and had sufficient resources to independently fund its $20 billion expansion strategy for the next 10 years.
($1 = 3.6726 UAE dirham)
(Reporting by Luke Tyson; editing by Barbara Lewis)
