Etihad Airways negated statements of several social media posts, which falsely claimed that the airline is being listed on the Dubai Financial Market.
In a statement sent to the press on Thursday, the Abu Dhabi-based carrier said: “These (fake) posts seem to engage in fraudulent promotion of a scheme of investment and misuse of Etihad’s trademark without any company affiliation.”
“The airline has clarified in the strongest terms that any conjecture regarding a potential share listing (IPO/ initial public offering) is entirely speculative,” Etihad underscored, adding: “These quite misleading posts have been taken to the relevant authorities in the UAE and social media providers. ”
On the same day Thursday, the Securities and Commodities Authority (SCA) – the federal financial regulatory authority of the country also urged people not to conduct business with fake investment companies.
SCA reported that fake ads are in the social media domain however they wanted citizens to invest in shares of Etihad Airways. These were the words of warning to investors that the SCA and Etihad Airways issued in a circular.
SCA urged the residents to deal with verified sources only and always crosscheck the identity of the particular firm before signing the contract or doing any transaction.
IPO listing is not ‘uncommon’
On the other hand, in March, Etihad Airways CEO, Mr Antonoaldo Neves suggested on IPO listing stating that ‘’airlines going public isn’t ‘uncommon.’
“The airline industry is a capital-intensive business,” Neves told reporters adding that this implies that focus carriers can have an advantage if they get access to capital and public markets through an IPO.
His statement comes as Etihad hinted at the possibilities of the business listing once more after delivering brilliant results in the year 2023 with positive forecasts for 2024.
In the previous year, Etihad’s total revenues grew by double digits or 11 percent to reach Dh20.3 billion in total revenues as it also posted Dh1.4 billion in operating results and Dh525 million net profit; and passengers’ revenues reached Dh16.7 billion.
Etihad Airways posted its P&AT for the first quarter in the year 2024 and it recorded Dh526 million up by a record 791.78% as against Dh59 million recorded in the first quarter of 2023. Within the period, the total revenue rose by Dh987 million due to a rise in network capacity as well as passenger traffic.
Six months into the year Etihad unveiled and commenced its Vision to expand its network by launching eight locations of which are Bali, Jaipur, and Al Qassim, and seasons of Nice, Antalya, Mykonos, Santorini, and Malaga.
