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The National
16-07-2025
- Business
- The National
Etihad Airways revises growth target up to 38 million passengers by 2030
Etihad Airways is revising its growth targets upwards to carry 38 million passengers by 2030, from a previous goal of 33 million, as it seeks to bring more point-to-point traffic to the UAE capital. The Abu Dhabi-based airline aims to expand 15 per cent every year until the end of the decade as it carries more passengers, adds 20 planes annually and reaps benefits from joint venture partnerships with Ethiopian Airlines and China Eastern, Antonoaldo Neves, Etihad's chief executive, told The National. The revised growth plans prompted the airline to place an order in May for 28 Boeing wide-body aircraft, a mix of 787s and 777Xs, during US President Donald Trump's visit to Abu Dhabi. " The plan that we have today is for 38 million Boeing order that we put is to get to that objective," Mr Neves said. "The strategy to bring more people into Abu Dhabi, to improve customer service and to provide people with more choice on the network is working very well. We're confident," he said, citing the 7.5 per cent surge in Abu Dhabi's population to more than four million last year. Etihad had outlined plans for its so-called Journey 2030, a seven-year growth agenda announced in November 2023 when it marked its 20th anniversary. The strategy calls for doubling its fleet to 170 planes and tripling the number of passengers it carries annually to 33 million as it expands its global route network. In 2024, the airline carried 18.5 million passengers. Sustainable growth This year, Etihad will take delivery of 22 planes and has announced a flurry of new destinations. It launched inaugural flights to four new destinations this year – Prague, Warsaw, Sochi and Atlanta – and is set to add another 13 routes before the year closes. On Tuesday, it announced an additional seven new destinations with a focus on the Caucasus and Central Asia. Asked if the rapid rate of network expansion was sustainable, Mr Neves said he was "confident" that this level of growth is manageable. "There's not a single week that I don't think about growth and safety and financial profitability," the airline boss said. "These are the three things that are always on my mind." Etihad Airways is "bigger and stronger" than ever before, hitting this week the mark of 20 million passengers flown in a 12-month period for the first time in its history, he added. The airline chief is "happy" with the company's second-quarter financial results, which are yet to be announced, while prospects for the second half of the year "are good". This comes despite airspace closures around the Middle East because of the geopolitical conflict that have created operational challenges for airlines serving the region. "We've been able to manage the geopolitical situation that we had very well, so we're confident in terms of the results for this year," Mr Neves said. The airline's profit margins and customer service levels are improving, while its safety standards are at an "all-time high," he said. "We're going to keep up the growth that we have for the next five something that we can swallow and it gets easier as we grow," he said. "We've been over-delivering on the growth [targets] every single year." Etihad Airways, for example, had previously set a target of 18 million passengers by 2027, which it has reached at the end of 2024, he said. While the airline has announced a flurry of new routes, it is using about two-thirds of its additional capacity to increase the number of flights on existing routes, he said. Etihad Airways on Tuesday said it is introducing flights to Almaty, Baku, Bucharest, Madinah, Tbilisi, Tashkent and Yerevan. The announcement came a day after low-cost carrier Wizz Air said it will exit its operations in Abu Dhabi, citing several operational challenges. Routes it was serving included Almaty, Baku, Bucharest, Tashkent, Madinah and Yerevan.
Globe and Mail
08-07-2025
- Business
- Globe and Mail
Time to Buy SoFi Technologies Stock for Higher Highs?
Etching out fresh 52-week highs in the past few trading sessions, SoFi Technologies SOFI stock has been a standout among the financial sector. As a member-centric, one-stop shop for financial services, SoFi is benefiting from several positive catalysts that have lifted investor sentiment. Sitting on +30% gains in 2025, SoFi stock has now soared over +200% in the last three years, hitting another 52-week high of $20 a share on Tuesday. Edging closer to an all-time peak of $25 a share, let's see if SoFi stock is in store for higher highs. SoFi's Aggressive Growth Targets The primary catalyst behind bullish sentiment for SoFi stock has been the company's aggressive growth targets, as management is aiming for 30% member growth and 20% revenue growth, with the goal of reaching over $3 billion in revenue this year. At the end of Q1, SoFi reported a record 10.9 million subscribers, spiking 34% from the comparative quarter. Notably, SoFi will be reporting its Q2 results on Tuesday, July 29. Based on Zacks' projections, SoFi's total sales are currently expected to rise 25% in fiscal 2025 to $3.29 billion compared to $2.61 billion last year. Plus, FY26 sales are projected to soar another 19% to $3.93 billion. Policy Shits & Crypto Comeback Helping to boost SoFi's outlook is that proposed federal caps on graduate student loans will most likely push borrowers toward private lenders, expanding the company's market share. Furthermore, investor interest has piqued with SoFi announcing it will re-enter the cryptocurrency market with plans to offer trading, staking, and crypto-backed loans. Strategic Partnerships & Institutional Ownership Key partnerships have also been a strong driver of SoFi's expansion, including with Capitalize Inc. for 401(k) rollovers and other retirement services. SoFi has also expanded loan platform agreements with Fortress Investment Group, boosting its lending capacity. While they aren't traditional partners, institutions like BlackRock BLK, State Street STT, and Vanguard Group have taken up significant stakes in SoFi, influencing the fintech firm's strategic direction and signaling strong confidence in regard to its business model. Overall, institutional ownership of SoFi shares is at over 40%. Monitoring SoFi's Balance Sheet Still in the beginning stages of its corporate life after going public in 2021, monitoring SoFi's balance sheet will be crucial for the time being. Optimistically, SoFi has $2.71 billion in cash & equivalents and $37.74 billion in total assets, which is above its total liabilities of $31.07 billion. Conclusion & Final Thoughts There is a lot to like about SoFi Technologies' stock at the moment, but for now, SOFI lands a Zacks Rank #3 (Hold) after such an extensive rally. That said, SoFi is shaping up to be a very viable long-term investment and is moving further past the probability line. However, SOFI is currently trading at a 70X forward earnings multiple, and better buying opportunities could be ahead despite the company's aggressive growth targets starting to justify investors paying a premium. Zacks' Research Chief Picks Stock Most Likely to "At Least Double" Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren't winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%. See Our Top Stock to Double (Plus 4 Runners Up) >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SoFi Technologies, Inc. (SOFI): Free Stock Analysis Report BlackRock (BLK): Free Stock Analysis Report State Street Corporation (STT): Free Stock Analysis Report
CNA
26-06-2025
- Business
- CNA
Boost household spending to rebalance China's economy: Economist
S&P Global Ratings Chief Economist Paul Gruenwald argues that boosting household purchasing power in China is essential to rebalancing Asia's top economy so that it can achieve its ambitious growth targets.
