Etihad’s full-year profits jump 52%
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Etihad Airways has posted a strong set of financial results for 2014.
The UAE’s national carrier generated net profits of US$73 million last year, 52.1% higher than the US$48m it generated in 2013. This result was driven by a 26.7% increase in revenues, to US$7.6 billion, which in turn was boosted by a 22.3% rise in passenger traffic.
The Abu Dhabi-based airline carried 14.8m passengers last year, up from 12.1m in 2013, while its fleet expanded from 89 to 110 aircraft. To manage this growth, Etihad’s increased its staff headcount to 24,206 employees, a net increase of more than 6,600 employees compared to 2013.
“Our focus is on sustainable profitability and our fourth year of net profits, at a time when we continue to invest in the new routes, new aircraft, new product and new infrastructure needed to compete effectively, shows we are serious about that goal,” said James Hogan, Etihad’s president & CEO.
“We have continued to grow, not just in size, reputation and performance, but also in maturity, evolving from an airline to a diverse global aviation and tourism group. This has been achieved through a unique strategy that combines industry-leading organic growth with wide-ranging partnerships and minority equity investments in other airlines around the world.”
Etihad launched 10 new destinations in 2014, connecting Abu Dhabi with Los Angeles, Dallas, San Francisco, Rome, Zurich, Medina, Yerevan, Jaipur, Phuket and Perth.
And the airline has already started 2015 on an upward trajectory, having launched the first flights using its new Airbus A380 and Boeing 787 Dreamliner aircraft earlier this year.
Etihad now has outstanding orders for 200 more aircraft, 16 of which will be delivered this year.
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