Etihad Airways, the national carrier of the United Arab Emirates, on Wednesday reported net profit of $42 million in 2012, up 200 per cent on 2011 ($14 million) in a year, which saw strong improvements in revenues, passengers numbers and cost control, says a press release.
Revenue increased 17 per cent to $4.8 billion ($4.1 billion), on passenger numbers up 23 per cent to 10.3 million (8.4 million). These numbers were boosted significantly by Etihad Airways' equity partnerships and code shares, which delivered more than $600 million in total revenue.
James Hogan, President and Chief Executive Officer of Etihad Airways, said: "This has been a game-changing year for Etihad Airways. We have delivered improved net profit, the second consecutive year we have been in the black, a remarkable achievement given the youth, ambitious growth and ongoing investment made by this airline in a challenging global economic environment.
We have taken great strides in building the industry's first 'equity alliance', with our investments in Air Berlin, Air Seychelles, Virgin Australia and Aer Lingus, which are contributing significant value to our business. And we have met our mandate of contributing to the economic development of Abu Dhabi, growing its aviation sector and building trade and tourism connections across the globe."-PR
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