Etihad Airways announced a nearly 50% increase in 'net profit' to $698m last year. The?carrier stated on Tuesday that increased capacity supported strong market demand and lifted the load factor.

"We have invested a lot in our product and customer satisfaction. We've grown a lot and added capacity, ?...So, I'd say that it's the combination of all our efforts," CEO Antonoaldo Neves said.

The Abu Dhabi airline reported that passenger numbers would increase by 21%, to 22.4 millions in 2025. Its fleet will grow to 127 aircraft, after 29 new jets have been added to the fleet during the year, through both Boeing and Airbus deliveries, as well as the return of the A380 to service.

Neves, the airline's spokesperson, said that "more premium demand" is expected this year.

He said, "Our load factor was 88% last year." We're having many, many days of 90% this year. We wouldn't be able to have this if the economy wasn't strong."

He said that new markets were performing better than expected. They are maturing faster than anticipated.

EXPANDING PLANS IN ASIA AND EUROPE

The Gulf airline has launched new routes in the past year including Prague, Hanoi, and Hong Kong.

Neves, when asked about the company's plans for further route expansion this year, said that they plan to expand in China, Southeast Asia, and Europe.

Airbus has struggled to meet demand due to supply chain constraints and Boeing's numerous crises.

Neves stated that Etihad's focus is on completing its retrofit program on time, while working with manufacturers to ensure timely deliveries.

"I wouldn't call it 'amazing', but it is improving," Neves said. He noted that the carrier expects to receive about 20 additional aircraft this year, mostly from Airbus.

(source: Reuters)