For an ‘IPO ready’ Etihad Airways, new 777Xs and acquisition of 60 aircraft signal major expansion

The recent Boeing order for 28 jets may not be the final number, said CEO Antonoaldo Neves

Last updated:
Dhanusha Gokulan, Chief Reporter
3 MIN READ
With a robust fleet of 100 aircraft already in operation, the UAE's flag carrier, Etihad Airways, is embarking on a major expansion, recently confirming an order for 28 wide-body Boeing jets.
With a robust fleet of 100 aircraft already in operation, the UAE's flag carrier, Etihad Airways, is embarking on a major expansion, recently confirming an order for 28 wide-body Boeing jets.
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Dubai: With strong Q1 numbers, a rapidly expanding fleet, new destinations on the horizon, and a CEO confirming IPO readiness, Abu Dhabi's ADQ-owned Etihad Airways is positioning itself as a major force in the global aviation landscape.

With a robust fleet of 100 aircraft already in operation, the very “IPO-ready” flag carrier is embarking on a significant expansion, recently confirming an order for 28 wide-body Boeing jets and revealing the strategic acquisition of more than 60 additional aircraft over the past few years.

In addition to the operational fleet, the airline has quietly acquired (including leased) over 60 aircraft in recent years, a move the airline CEO Antonoaldo Neves explained was intentionally kept under wraps as the airline focused on its core business of selling tickets rather than making announcements about fleet numbers.

“We have been buying planes almost monthly for the past two years. We will have a fleet of 67 to 70 planes by 2022; now, our fleet is 100. We actually acquired recently (and we never announced) more than 60 planes,” Neves told Gulf News on the sidelines of the Khutwaty 2025 Etihad career fair. Neves did not specify the type of aircraft for the 60+ acquisitions.

He added, “We never announced that. We are not in the announcement business… about 200 and 300 planes. Our business is to sell tickets. So, every time we launch a new destination, we announce it.”

Boeing order

“(The Boeing deal) was important for us,” explained Neves. “It is a new fleet type we will bring after 2030: the 777X. And the only reason we decided to announce it was because it was important to our people and stakeholders. They realise Etihad is now planning for 2035 because some of these planes will start arriving in 2028, but many of them will arrive after 2030,” he confirmed.  

He suggested that the 28 ordered aircraft might not be the final number, indicating a continued appetite for expansion.

Neves said there is a strategic rationale behind the airline’s fleet management approach, which includes a preference for smaller, more flexible orders rather than locking into massive deals that could limit future optionality. According to Neves, this approach contrasts with other airlines that prioritise unit prices through large-scale orders.

"We are going to keep buying planes because we like to buy as we go. We do that because we like to leave fleet optionality," he added.

The airline’s fleet enhancement plans are part of Etihad’s broader growth strategy, aiming to double its passenger numbers and reach 40 million travellers.

IPO readiness

Neves confirmed the airline’s readiness for an Initial Public Offering (IPO). When asked about the timing of a potential IPO, he said, “We’re ready to go the day the shareholder decides to go.”

Commenting on media speculations about an IPO timeline, Neves said, “I don’t know why media put a deadline where there is no deadline. So, can you postpone something that never was scheduled? There is no date, but we’re ready. Let me be very transparent about that.”

But why IPO? Neves said, “We live in a situation where other airlines are buying back shares because they’re making so much money that the shareholders say, “Look, I want to buy back shares. You should.” I mean, so I think our shareholder is scratching their heads and saying, “Look, this airline is paying me dividends. This airline is making money and spending margin. And we don’t need capital, and your balance sheet is robust.”

He said, “We must be ready. If I’m ready, I’m healthy. That’s how we think.”

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