Etihad unveils $7 billion investment plan for retrofitting aging Boeing jets over five years.

• Antonoaldo Neves, the Group Chief Executive Officer of Etihad, stated that passengers can anticipate a "completely different airline" within the next two to three years.
• From 2026 onward, Etihad will retrofit and revamp its "dated" Boeing 777 planes, as described by Neves, due to the global aviation market's constraints.
• "There are no planes available," he said.

On Wednesday, Etihad Airways unveiled a $7 billion investment plan for the next five years with the goal of "doubling the size of the airline by 2030."

According to Antonoaldo Neves, Etihad's Group Chief Executive Officer, passengers can expect a "totally different airline" within the next two to three years, as revealed in a conversation with CNBC's Dan Murphy.

The airline plans to spend much of its $7 billion budget on updating its current fleet and purchasing new planes in the future, with a goal of having up to 170 planes by the end of the decade. Currently, the airline operates 92 planes.

The company will offer more convenient time slots for passengers traveling to Europe and Southeast Asia who want to travel at 2 p.m. in the afternoon, according to him.

From 2026 onward, Etihad will retrofit and revamp its "dated" Boeing 777 planes, as described by Neves, due to the global aviation market's constraints.

"There are no planes available," he said.

The airline's priorities include purchasing new planes, retrofitting Boeing 777s, increasing business class seats, and upgrading in-flight WiFi connectivity.

Neves stated that both the product and customer service are of utmost importance.

The new terminal in Abu Dhabi, which Etihad operates 16 flights a day from, has already enhanced the company's competitive edge, according to Neves.

Over the past two years, the airline has had a total of 28 million passengers.

Speculation about a possible IPO in 2025 has fueled a drive to improve profitability.

No decision has been made on the timing of the airline's market entry, according to Neves.

"Having airlines listed is crucial, as it may be necessary to tap into different sources of capital to finance growth in the future, even if we don't need cash in the next five to six years to deploy the $7 billion capital," said Neves.

Etihad is actively preparing for an IPO listing, with ADQ, the sovereign wealth fund shareholder fully owned by the Abu Dhabi government, investing heavily in their companies to be ready to lead the listing process. ADQ is the smallest of Abu Dhabi's three sovereign wealth funds and is chaired by Sheikh Tahnoon bin Zayed al-Nahyan, the brother of the UAE's current president.

Etihad Airways may debut on the stock market no earlier than 2025, according to sources. Geopolitical instability in the region, including the war in Gaza and rising tensions between Israel and Lebanon, could impact the timing of any announcement.