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Abu Dhabi-based Etihad Airways built up its network through a slew of acquisitions including Jet Airways in India. But business failures and the Covid-19 pandemic forced the airline to recalibrate the strategy. Under its new CEO Antonolado Neves, Etihad is working to increase its fleet and network by 2030. India remains a pivotal market for the airline and it is looking to partner with carriers for growth. Edited excerpts:
Etihad reported 48 per cent growth in net profit in H1 2024. How has the airline performed in the Indian market this year (CY24). How much does India contribute in terms of passengers, cargo and revenue for the airline?
In the first six months of 2024, Etihad Airways experienced remarkable growth, including a 48 per cent increase in net profit, a significant increase from AED 575 million ($157 million) in H1 2023, highlighting the airline’s continued focus on growth coupled with optimising operational efficiencies. India as a market has contributed significantly to our overall results, with notable increases in passenger numbers, cargo volumes and revenue. The Indian market remains a crucial part of our strategy.
How much of Etihad’s traffic from India travels onward and which are top onward destinations?
We are celebrating our 20 years of flying to India starting with our first flight to Mumbai city. Since then, we’ve carried five million passengers between Abu Dhabi and Mumbai, and 26 million passengers between Abu Dhabi and India. Currently, London and the US top the list of preferred onward destinations. The introduction of the A380 and Abu Dhabi’s US pre-clearance services has made these routes consistently popular throughout the year.
What are your expansion plans? How many additional seats and points of call are you looking from India? Some of the Gulf airlines have entitlements for Amritsar, Goa etc. Is Etihad interested in these destinations as well?
We are keen to explore additional seats and new points of call from India to better-serve growing demand. Destinations such as Amritsar and Goa are of interest to us, and we are actively assessing how to integrate these and other potential routes into our network to enhance connectivity and support our strategic goals.
How do you assess the collapse of Jet Airways in Etihad’s growth and plans in India?
Currently, our focus is expanding our own network in India and we are constantly seeking opportunities to grow, where it makes business and commercial sense.
Are you looking at any partnerships with Indian carriers?
We are actively evaluating potential collaborations in areas such as codeshare agreements, joint ventures and other strategic alliances to enhance connectivity and provide more value to our passengers. Our aim is to strengthen our network and offer more seamless travel options in and out of India.
How is Etihad cargo performing in India? Has the airline benefitted from India-UAE comprehensive economic partnership? Any plans for India on the cargo side?
Etihad Cargo’s performance in India has been strong, reflecting robust demand and effective operations. The India-UAE comprehensive economic partnership has positively impacted our cargo business by facilitating increased trade. Looking ahead, we have plans to further develop our cargo network in India, focusing on increasing capacity and optimising routes to better-serve the growing market.
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