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Etihad Airways reports Dh526 million record profit in first quarter

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 Etihad Airways today announced its Q1 2024 results, recording a profit after tax of AED 526 million (U.S.$ 143 million), a significant improvement over Q1 2023, marking a solid start for the 2024 financial year.

Total revenue increased by AED 987 million (U.S.$ 269 million), from AED 4,752 million (U.S.$ 1,294 million) in Q1 2023 to AED 5,739 million (U.S.$ 1,563 million) in Q1 2024, reflecting an increase in network capacity and passenger numbers.

The airline carried 4.2 million passengers over the quarter, up 41 per cent year-on-year. The average passenger load factor stands at 86 per cent for Q1 2024 and remains unchanged compared to the first quarter of last year. Revenue from cargo and other sources remained broadly stable over the same period.

The airline continues to improve its operational efficiency with decreasing unit cost from the same quarter last year (CASK and CASK ex-fuel reduced by 9 per cent and 11 per cent, respectively).

Antonoaldo Neves, Chief Executive Officer of Etihad Airways, said: “We are pleased to report a strong start to the financial year 2024, with our first quarter earnings equivalent to our total net income for the entire financial year 2023 as we continue our margin expansion journey. We have maintained our resilience and our focus on customer service and growth while continuing to improve our commitment to efficiency.

“This significant profit increase was achieved even with the holy month of Ramadan starting in early March this year, compared to late March last year, demonstrating the adaptability of our business.

“Our plans are set to expand our network and enhance our offerings while connecting an ever-greater number of people to and via Abu Dhabi. I would like to extend my deepest thanks to all our employees whose hard work and dedication have been crucial in achieving these results.”

During this period, Etihad optimised its network by enhancing routes and increasing frequencies to key destinations. The airline also launched new flights to Thiruvananthapuram, Kozhikode, and Boston, and announced additional routes to Antalya and Jaipur. The additional capacity has led to a 34 per cent increase in Etihad’s total weekly flights for the upcoming peak summer period, growing from 642 last year to 858 in 2024.

The airline has continued to play a pivotal role in supporting Abu Dhabi’s tourism sector, driving a 43 per cent increase in inbound point-to-point traffic compared to the first quarter of 2023.

In its first quarter operating from its new terminal at Zayed International Airport, the airline has seen significant improvements in customer satisfaction, driven by enhanced efficiencies across all passenger touchpoints. Upgraded lounge facilities now offer more comfort and exclusive services, enhancing the overall travel experience. Additionally, streamlined check-in processes and smoother transfers have contributed positively to customer feedback.

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Ring in the New Year on Dubai’s waters: Abra, Taxi & Ferry with Atlantis views

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As Dubai residents and tourists gear up to celebrate New Year, they can ring in 2025 with celebrations in the waters of the emirate.

The Roads and Transport Authority in Dubai has announced special offers and exclusive services during the New Year’s Eve, December 31, 2024, on marine transport means including the Dubai Ferry, the Abra, and the Water Taxi.

Passengers can enjoy views of the Burj Khalifa, Bluewaters, Atlantis, Burj Al Arab and Jumeirah Beach Towers. Residents can cruise into 2025 aboard the Dubai Ferry, Water Taxi, and Abra, with the backdrop of the Dubai coastline, adorned with hotels, heritage areas and landmarks such as The World Islands.

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Nicholas Pooran highlights growing competitiveness of ILT20

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The third season of the DP World International League T20 is on the horizon with the star West Indies batter Nicholas Pooran among the players preparing to dazzle as the MI Emirates get their title defence underway on Saturday, 11 January in Dubai. The tournament’s growing reputation for competitiveness and its role as a platform for UAE players to develop have captured the attention of cricket fans globally. Pooran, who led MI Emirates to glory in the previous season, is determined to make an impact once again.

Sharing his thoughts on the season ahead, Pooran remarked, “It’s nice to be back for the third season of the DP World ILT20. We’re really looking forward to this season. We’re hoping to do our best again this year and try to retain the title, but there’s a lot of hard work ahead for me and the team to make that happen.”

Reflecting on the competition’s intensity, the explosive left-hander added, “Each year, I feel the quality of the tournament keeps improving. The DP World ILT20 is doing a better job every single year. I think competitiveness is important and it feels like international cricket with nine overseas players and two UAE guys.”

Pooran also acknowledged the role of the DP World ILT20 in nurturing cricketing talent in the UAE. “Tournaments like this are crucial for developing UAE cricketers as well. It’s a fantastic opportunity for them to learn from some of the best in the business,” he noted.
As the second highest run scorer last season, Pooran struck 31 sixes, amassing 354 runs in ten innings at an enviable average of 50.57 and a strike rate of 170. On replicating his performance in the new campaign, he opined, “It’s obviously challenging.

Every year, every competition brings new challenges. Going into this season, preparation begins over the Christmas period. I’m working on getting my body back in shape, hitting a lot of balls, and getting my mind in the right place. When January comes, hopefully, I’ll have some luck on my side. You play each game on its merit—every game is a new opportunity, and it’s about doing what the team needs. So, let’s see how the new season goes.”

Another standout performer from MI Emirates last season was UAE’s Muhammad Waseem, whose aggressive batting saw him finish as the fourth-highest run-scorer in the tournament (DP World ILT20 Season 1 and Season 2 Blue Belt Winner – Best UAE Player). Waseem tallied 321 runs in 12 innings, showcasing his flair and consistency. Pooran praised the opener, highlighting him as an example of UAE’s cricketing potential.

“There are a lot of talented players in the UAE. I’ve played with Waseem over the years, and he has been incredible right from when he got his chance. He seized that opportunity, and he’s been brilliant for us with MI in both seasons. He’s one of my favourites, for sure. I hope he continues to do great things for himself and his family,” Pooran stated.

Signing off with a message to the fans, the 29-year-old expressed his gratitude, saying, “We have passionate fans, not just here but in India and across the world. Hopefully, we can keep putting smiles on their faces and bring more titles to them.”
The third season of the DP World ILT20 will run from 11 January, to 9 February 2025

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Dubai Set to Host Inaugural FEI Eventing Competition, Paving Path to Olympic Dreams

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Some of the UAE’s best equestrian athletes will look to make history by becoming the first-ever winner of an FEI sanctioned eventing competition in Dubai when the ‘FEI WEC – Category A and National’ one-day competition is held at the Emirates Equestrian Centre (EEC) on Saturday.

The inaugural event is being organised and sponsored by the UAE Equestrian and Racing Federation with the intention of providing opportunities to Emirati riders, while getting them the necessary points to qualify for the international stage, with the Olympic Games as the ultimate target.

Eventing has been part of the Olympics’ schedule since the 1912 Stockholm Games and the maiden championship shows the UAE’s ambition in wanting to secure more spots for its athletes at the quadrennial games. A Category A event is considered a top tier preparatory or qualifier competition designed to prepare athletes for the first levels of FEI competitions and is open to equestrian athletes aged 14 and above.Organisers are expecting a healthy turnout with this first-of-its kind event promising to set the standards nationwide for competitive eventing, which consists of a combination of the three major equestrian events of jumping, dressage and cross country, blending athleticism with artistry and precision, whilst celebrating the synergy between horse and rider.

According to the International Equestrian Federation (FEI), eventing “is truly a complete sport that tests both the horse and rider in all ADM Restricted (Internal) (‌مقيد (داخلي‌))‌ aspects of horsemanship, and one of the three Olympic disciplines”. Commenting on the inaugural edition of the competition, Ali Al Ali, Chief Executive Officer and Dubai Racing Club board member, which manages the EEC, said: “This is the start of something really big and we look forward to hosting this event as it gives our equestrian athletes a change to perform on the world stage.

“This is a really a great platform and we encourage our athletes to make the most of this opportunity. Eventing is a sport that we support fully as we hope to nurture the next generation of equine stars that will make the country proud.” Tahra Ahmad, manager at EEC, said: “This is a great way to promote the sport. Equestrian sport is very much an integral part of UAE culture and is steeped in the traditions of our country. We will do our very best to ensure the event is worthy of its status. We would like to wish all those participating in this historic event all the very best.”

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