Etihad’s net profits triple
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Etihad Airways has tripled its year-on-year net profit to USD42 million in 2012, it has announced.
The Abu Dhabi-based carrier posted its second year of net profit, with revenue up USD7million to USD4.8bn.
Its partner airlines, Air Seychelles, airberlin, Virgin Australia and Aer Lingus, contributed towards 19% of its passenger revenue. The successful year for the airline continued after it registered 10 million passengers for the first time in 2012, with its load factors up 2.4% to 78.2%.
James Hogan, president and CEO of Etihad said the year had been a “game-changer” for the carrier.
“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,” he added.
In line with its partner airline strategy, Etihad expanded its partnership with Air France-KLM by announcing it will wet-lease an Airbus A340-300 to use on the Paris-Abu Dhabi route from 15 May to 30 November. Etihad opened an airport lounge in Paris last week and the two carriers will launch flights between Abu Dhabi and Amsterdam in May.
