Two of the world's major airlines are thriving in difficult economic times with Etihad and Singapore Airlines this week reporting impressive profits.
Middle East-based Etihad Airways posted its best-ever profit for the full year 2024.
It achieved a record AED 1.7 billion ($476 US million) profit.
That marked a third consecutive year of profitability and a tripling of profit from 2023, news portal Travel Mole reported.
The airline saw growth across all metrics and achieved operational efficiency improvements.
Etihad carried 18.5 million passengers in 2024, a 32% increase.
In 2024, the airline expanded its operations to over 1,700 weekly flights and increased frequencies on 25 routes over the past two years.
It also launched more than 20 new destinations, including Boston, Jaipur, Bali, and Nairobi.
“Looking ahead, I am confident we will continue to be a financially strong airline contributing to the long-term prosperity and success of the UAE," said CEO Antonoaldo Neves.
Singapore Airlines Group (SIA), meanwhile, posted 3.3% growth in the quarter to December 31, lifting operating profit to $629 US million.
This is the highest quarterly revenue on record passenger carriage, despite declining yields due to stiffer competition.
Group revenue was a record $5.2 billion for the three months, up $137 million.
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