Etihad Airways, the national carrier of the UAE, has denied claims of a public share listing on the Dubai Financial Market, stating that these posts are false and misleading. The airline clarified that any speculation about a potential share listing is entirely speculative and has reported these deceptive posts to relevant authorities and social media providers. The Securities and Commodities Authority (SCA) also warned residents against dealing with bogus investment entities circulating fake ads on social media encouraging people to subscribe to Etihad Airways shares.
SCA advised investors to rely on official sources for information and verify an entity’s identity before making any financial transactions. While IPO listings are not uncommon, Etihad Airways CEO Antonoaldo Neves has hinted at a possible IPO listing in the future, stating that airlines can benefit from gaining access to capital and public markets through an IPO. Speculations of Etihad’s possible listing stemmed from its stellar performance in 2023, with a positive outlook projected for 2024.
In 2023, Etihad posted double-digit total revenue growth, reaching Dh20.3 billion, with an operating result of Dh1.4 billion, net profit of Dh525 million, and passenger revenue of Dh16.7 billion. In the first quarter of 2024, the airline registered a profit after tax of Dh526 million, a significant increase of over 791% compared to the same period in 2023. Etihad also expanded its network in June, launching eight additional locations, including Bali, Jaipur, and Al Qassim, as well as seasonal destinations like Nice, Antalya, Mykonos, Santorini, and Malaga.
While IPO listings are not uncommon in the airline industry and can be beneficial for carriers, Etihad Airways has clarified that any claims of a public share listing on the Dubai Financial Market are false and misleading. The airline’s strong performance in recent years has fueled speculations of a possible IPO listing in the future, but any conjecture regarding this matter is entirely speculative. Etihad’s commitment to reporting deceptive posts and warning investors against dealing with fake ads on social media demonstrates the airline’s dedication to transparency and protecting its investors from fraudulent activities.
As the UAE’s national carrier, Etihad Airways continues to focus on growth and expansion, with plans to further enhance its network and services. The airline’s positive financial performance and profitability in recent years have positioned it as a strong player in the industry, attracting investor interest and speculations about a potential IPO listing. While the future path of Etihad Airways remains uncertain, its commitment to delivering excellent services and maintaining transparency with investors will continue to drive its success in the aviation sector.
