Etihad Airways is no rush to go public, according to the airline’s chief executive Antonoaldo Neves.
When asked about the Abu Dhabi airline’s initial public offering, Mr Neves said it’s all “speculation”.
“Right now, the focus is on deleveraging the company. The more debt is reduced, the more returns can be given to shareholders, who are the ultimate decision-makers on any IPO. There’s no rush for capital, no rush to go public,” he told The National in an interview.
However, Mr Neves said that an airline IPO would be a potential structural shift for the UAE’s capital markets. Such an event could rebalance investor focus and redefine the region’s financial landscape, he said.
The airline’s chief executive has a clear mandate: grow the business. And he has delivered, making it clear his goal is to dominate a four-hour flight radius from Abu Dhabi, “an area that includes two billion potential customers”.
Like every global chief executive, Mr Neves has faced disruptions from trade liberalisation, tariffs and the unpredictable moves of US President Donald Trump.
Yet he was quick to point out that Etihad’s exposure to the US market, particularly in cargo, is limited – and, in fact, that business has grown, he said. So far, US policies and rhetoric have had little direct impact, Mr Never explained.
His real worry is not tariffs or political posturing, but rather a potential imbalance in transatlantic supply and demand, particularly a drop in passenger traffic from Europe and the UK to the US. That could send ripple effects across the Middle East, he warned.
“If North Atlantic routes falter, excess aircraft might be redirected to this region, putting downward pressure on pricing and disrupting the market,” he feared.
Last week, during Mr Trump's visit to the UAE, Etihad announced an order for 28 Boeing wide-body aircraft with GE engines, valued at $14.5 billion. Delivery of the aircraft, which include 787s and the 777X, will start in 2028.
Regarding Etihad’s recent aircraft order from Boeing, Mr Neves was unequivocal: “These planes are for growth.”
With 18 new destinations planned for 2025, Etihad’s “ambition is clear”, he said.
The chief executive added that he is in close contact with Boeing leaders such as Dave Calhoun and Stephanie Pope and believes the aircraft manufacturer’s improved performance over the past six months shows the “worst is behind them”.
