Abu Dhabi’s Etihad Airways has delayed its planned $1 billion initial public offering (IPO) until at least next month, following the Eid al-Fitr holiday, sources familiar with the matter told Reuters.
The airline had not officially announced a date for the IPO, but sources had indicated that an announcement was expected last week, coinciding with Etihad’s report of a significant profit increase. The reasons for the postponement remain undisclosed.
Etihad, owned by Abu Dhabi’s $225 billion wealth fund ADQ, had planned to issue shares representing about 20% of its business to fund its growth ambitions. The airline recently reported a net profit of $476 million for 2024, more than tripling its earnings from the previous year. This financial upturn follows a multi-year restructuring and management overhaul, with expansion efforts underway under the leadership of CEO Antonoaldo Neves.
The Gulf offers could be a bright spot for investors in the airline sector, which has been contending with delivery delays, labour disruptions, surging costs, and engine troubles elsewhere.
Etihad, established in 2003, has been expanding its operations, adding new routes and increasing flight frequencies. The airline carried 18.5 million passengers in 2024, a 32% increase from the previous year, and its cargo revenues for the year were $1.1 billion, up 24%.
