Etihad Cargo has reported robust performance for 2024, registering significant gains in both revenue and volume, marking a successful year of growth and expansion. According to the airline’s annual results, cargo revenues surged by 24.1% year-on-year, reaching an impressive $1.3 billion. In terms of volume, Etihad Cargo saw an 11.6% increase, handling a total of 646,000 tonnes of cargo.
This growth can be attributed to several factors, including the airline’s expansion of capacity and network, as well as improved yields in the latter half of the year. The results mirror broader market trends, with global cargo traffic increasing by 11.3% in the same period.
Following the disruption caused by the COVID-19 pandemic, Etihad Cargo continued to expand its network in 2024. Over the past two years, the airline added 20 new destinations and increased frequencies on 25 existing routes. The airline’s fleet also grew, with a total of 12 new aircraft joining its ranks, including six Airbus A321neos and a re-introduced fifth A380.
A key contributor to Etihad Cargo’s success was its new partnership with SF Airlines, a major express carrier. The partnership has further bolstered its operational capabilities and helped improve service offerings across various sectors.
In terms of overall performance, Etihad Group had a record-breaking year, tripling its net profit to $476 million and increasing overall revenues by 25% to $6.9 billion. The airline also achieved significant operational efficiency improvements, with unit costs decreasing and EBITDA rising by 32%.
Looking ahead, Etihad Cargo plans to continue its growth trajectory with the addition of 10 A350 freighters to its fleet. The airline has already confirmed orders for seven A350 freighters and is in talks with Boeing to secure a further three. However, Airbus recently announced a delay in the A350 freighter’s entry-into-service date to the second half of 2027, pushing back the anticipated launch.
Currently, Etihad Cargo’s freighter fleet includes five Boeing 777 freighters, all supporting the airline’s expanded cargo operations.
