Initial public offering shares via web-based entertainment UAE’s public transporter, Etihad Aviation routes, has rubbished claims made by “a few web-based entertainment posts dishonestly proposing that the carrier is embraced a public offer posting on the Dubai Monetary Market.”
The Abu Dhabi-based airline issued the following statement to Khaleej Times on Thursday: “Despite having no affiliation with Etihad, these (fake) posts appear to misleadingly advertise a mechanism to invest and improperly use the airline’s branding.” Etihad emphasized, “These deceptive posts have been reported to the relevant authorities in the UAE and social media providers,” adding, “The airline has clarified in the strongest terms that any conjecture regarding a potential share listing (IPO/ initial public offering) is entirely speculative.”
Additionally on Thursday, the Protections and Items Authority (SCA) – the country’s government monetary administrative office – likewise cautioned occupants against managing false venture substances. SCA noted counterfeit advertisements have been coursing via online entertainment stages, empowering individuals to buy in Etihad Aviation routes shares. In an advisory, the SCA and Etihad Airways told investors, “Do not deal with these fictitious advertisements.”
The SCA reminded residents to only rely on official sources for information and to first verify the identity of an entity before signing any agreements or making any financial transactions. Listing on an IPO is not “uncommon.” In the meantime, Etihad Airways CEO Antonoaldo Neves made a hint at an IPO listing back in March, stating that “airlines going public isn’t ‘uncommon’.” Neves told reporters, “The airline industry is a capital-intensive business,” that airlines can benefit from “access to capital and public markets through an IPO.” His statement that time had passed came amid rumors that Etihad might be listed after a stellar performance in 2023, with a promising outlook for 2024.
With total revenue of Dh20.3 billion, operating results of Dh1.4 billion, a net profit of Dh525 million, and passenger revenue of Dh16.7 billion, Etihad achieved double-digit revenue growth of 11%. Compared to Dh59 million in the first three months of 2023, Etihad Airways recorded a Dh526 million profit after tax in the first quarter of 2024—a significant increase of more than 791 percent. Absolute income expanded by Dh987 million on the rear of an expansion in network limit and traveler numbers. In June, Etihad followed through on its arrangements to extend its organization sending off eight extra areas, including Bali, Jaipur and Al Qassim; and occasional objections Decent, Antalya, Mykonos, Santorini and Malaga.
