Etihad Airways CEO Antonoaldo Neves told Reuters that the airline has no timeline for an initial public offering (IPO) and can self-fund its estimated $20 billion expansion over the next decade. The decision on a listing remains with its sole shareholder, sovereign wealth fund ADQ.
Neves confirmed the carrier is ready for an IPO if required, but emphasised that the timing rests with ADQ. “The time has not come yet,” he said.
Since ADQ assumed control in October 2022, Etihad has shifted away from mergers and acquisitions and refocused on organic network growth from its Abu Dhabi hub.
Passenger numbers are up 17% year-on-year, and load factors have risen to 88% from 86%. Bookings dipped during the Israel-Iran conflict but returned to normal by the end of July.
Etihad operates over 100 aircraft across Airbus and Boeing models. In May, it confirmed an order for 28 wide-body Boeings, including the 777X, scheduled post-2030 to replace A380s. Future acquisitions may come from OEMs or the secondary market via leases or used aircraft.
In 2024, sources reported that Etihad would not list before 2025 and intended to present strong financial results first. The IPO timing continues to be affected by regional geopolitical risks.
Earlier this year, Etihad and budget airline Flynas were exploring IPOs in local markets, with Etihad expected to sell a 20% stake in a move that could raise around $1 billion.
