Thursday 21 June 2018

Etihad flies high with $3.2bn H1 revenue

Abu Dhabi, July 8, 2014

Abu Dhabi's state-owned Etihad Airways, which plans to buy a 49 per cent stake in Alitalia, reported on Tuesday a 28 per cent jump in first-half revenues, helped by growth in passenger and cargo volumes.

The carrier earned revenues of $3.2 billion in the six months ended June 2014 compared to $2.5 billion in the corresponding period last year, it said in a statement.

Revenues from code-sharing and equity partners rose 31 percent to $471 million. The airline carried 6.7 million passengers in the first half of this year, up 22 per cent, while cargo volumes grew 25 per cent to 268,713 tonnes.

"We have ambitious plans to build on this momentum in the second half of 2014, with five more destinations being introduced into our global network, and our ground-breaking Airbus A380 and Boeing 787 also entering service, which will reinforce our status as a global market leader," chief executive James Hogan said.

The airline, which began operating in 2003, had 98 destinations by the end of the first half, compared to 92 in the same period last year.

Unlisted Etihad, which has stakes in Air Berlin and Aer Lingus, last month confirmed it had reached an agreement with loss-making Italian carrier Alitalia to acquire a 49 per cent stake, with the investment subject to final regulatory approvals.

Etihad has a fleet of 102 aircraft; six more will be received in the second half of 2014.-Reuters

Tags: Etihad | cargo | Passenger | Revenue |

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