Etihad Cargo achieved significant growth last year, reporting double-digit percentage increases in both revenue and profit as it expanded its operations. The company’s annual results show that cargo revenue rose by 24.1% year-over-year, reaching $1.3 billion, while freight volumes grew by 11.6% to 646,000 tonnes.
The airline attributed this strong performance to increased capacity, higher shipment volumes, and improved yields in the latter half of the year. This aligns with the broader market trend, which saw cargo traffic rise by 11.3%.
Network expansion
Over the past two years, Etihad has steadily expanded its network, adding 20 new destinations and increasing flight frequencies on 25 routes. Additionally, its fleet grew to 97 aircraft in 2023 with the addition of 12 new planes, including six Airbus A321neos and the return of a fifth Airbus A380.
A strategic partnership with SF Airlines further contributed to Etihad Cargo’s growth. In terms of overall business performance, the airline achieved a record-breaking net profit of $476 million—tripling its previous year’s result—while total revenue increased by 25% to $6.9 billion. The company also improved operational efficiency, reducing unit costs and increasing EBITDA by 32%.
Looking ahead, Etihad plans to expand its cargo operations by adding 10 Airbus A350 freighters. The airline has already secured orders for seven of these aircraft and is in discussions with Boeing for an additional three. However, Airbus recently announced a delay in the A350 freighter’s entry into service, pushing the expected delivery to the latter half of 2027 instead of 2026. Currently, Etihad Cargo operates a fleet of five Boeing 777 freighters.