LAHORE: Etihad Airways, the national airline of the UAE, today reported third quarter revenues of $1.3 billion, up 19 per cent on 2011 ($1.1 billion). The record revenues reflected passenger numbers up 23 per cent, with 2.79 million travellers in the quarter (2.27 million).
Seat factors of 81.2 per cent mark the best ever quarterly performance by the airline, with passenger numbers on track to pass the 10 million milestone in 2012. The rise in revenues continues to outperform the airline’s growth in capacity and Etihad Airways remains confident of achieving full year profitability for the second year running.
Passenger revenues were boosted by codeshare and partner revenues, which jumped 51 per cent to $182 million ($121 million). The airline's 38 partners helped to create a total network of 315 destinations, more than any other Middle Eastern carrier.
James Hogan, Etihad Airways’ President and Chief Executive Officer, said: "Our third quarter saw continued progress across the business, with all key indicators showing strong performance and we remain confident of delivering full year profitability based on current market conditions. We are particularly pleased with the contribution from our codeshare and equity partners. This component of our strategy is delivering a strong and growing revenue stream, complementing our own double-digit organic growth."
The growth of the network will be further supported by the delivery of three new aircraft in the next three months – two Airbus A320s and one three-class Boeing 777-300ER - with a further 14 due for delivery in 2013 (six Boeing 777-300ER, five Airbus A320/A321, two Boeing 777 freighters and one Airbus A330 freighter).
Cargo revenues were significantly ahead of last year, up six per cent to $181.6 million. The airline's dedicated freighter fleet of six aircraft now serves eight cargo-only destinations (Amsterdam, Benghazi, Dubai, Hahn, Hong Kong, Djibouti, Kabul and Sharjah) in addition to the wider Etihad Airways network.
Etihad Cargo carried 93,560 tonnes of freight in Q3, 18 per cent more than in the corresponding period last year (79,378 tonnes), with customers being offered more choice of destinations from the airline’s newly launched passenger services.
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